The State of NWA Real Estate

April 7, 2021

Real Estate

The State of NWA Real Estate

NWA Daily

A year full of challenges for most of the economy, somewhat surprisingly, set NWA's already hot housing market on fire, and it doesn't appear to be slowing down anytime soon. So what exactly is going on?

  • Homebuilding permits are hot: Residential building permit activity in Northwest Arkansas’ four largest cities is ahead of last year’s pace through the first two months of 2021.

  • Bentonville's housing market is unprecedented: In the area, real estate agents admit that Bentonville is in the midst of the largest seller’s market they’ve seen in the past 33 years. For comparison, the average price per sqft in the city was $180 at the end of 2020. The market is expected to grow more than 7% next year.

  • On the flip side: Many NWA residents are being pressed by the exponential rise in home prices, so the region needs more affordable multifamily housing in neighborhoods that include retail, office and commercial developments. How these forces will play out will be interesting to observe. You can read the full story HERE.

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