The latest Skyline Report shows that the average home sale price in Northwest Arkansas rose 26.8% in the first half of 2022 from last year. In the same period, the local multifamily vacancy rate fell to 2.3% from 3.4%. 

• Inventory & rates: The 2.3% vacancy is functionally zero, as multiple apartment complexes in NWA have waiting lists. Low inventories are causing rising rents, which have increased to $860.87 in 2022 from $789.06 in 2021.
• New homes: The effort to provide more housing options in the region shows through the 2,892 residential building permits issued in NWA in the first half of 2022, which is a 16.1% increase from last year. 

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