Northwest Arkansas Housing Market Inventory: Insights from the Latest Data Shifts

May 8, 2024
4 min read
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Photo by Brad / Unsplash

When assessing the state of the real estate market in Northwest Arkansas, it’s important to consider both the number of active listings and the amount of time that homes are staying on the market. If there is a significant increase in active listings while homes are taking longer to sell, this may suggest that home prices could be at risk of decreasing in the near future. On the other hand, if there is a notable decrease in active listings, it could be a sign of a strong and competitive market, potentially leading to increased home prices.

Over the past year, the number of active listings in the housing market across the country has increased by 30% compared to the same period from April 2023 to April 2024. However, despite this rise in active listings, the current inventory of homes is still significantly lower by 35% compared to pre-pandemic levels of April 2019.

Here’s a look at the total April inventory/active listings over the past eight years in Northwest Arkansas: 

April 2017: 1,102 

April 2018: 822

April 2019: 1,396

April 2020: 1,166

April 2021: 1,257

April 2022: 1,103

April 2023: 1,010

April 2024: 1,194

Over the course of the last eight years, the housing market in Northwest Arkansas has undergone significant changes, highlighting the dynamic nature of the region’s real estate landscape. These variations in the availability of active housing listings reflect the ever-changing market conditions, such as shifts in supply and demand. Despite the annual fluctuations, the overall trend indicates that the local housing market is highly adaptable and capable of responding to evolving economic factors and consumer preferences. These shifts serve as a reminder of the importance of staying up-to-date with the latest trends and developments in the local real estate market to navigate effectively in Northwest Arkansas’s housing sector.

The provided data comprehensively represents the yearly changes in the number of new property listings for a specific market over the past ten years. It provides detailed insights into the trends and fluctuations in the real estate industry, which can prove invaluable for buyers, sellers, and investors alike.

The analysis shows a general upward trend between 2014 and 2021, indicating a steady increase in the number of properties listed for sale each year. However, in 2022, there was a slight decrease in new listings compared to the previous year, marking a departure from the previous trend. This trend continued into 2023, where there was a further decline noted. The year 2024 saw a significant drop in new listings, suggesting a substantial deviation from the previous trend.

These changes in market dynamics can indicate various factors influencing the real estate industry, such as economic conditions, housing demand, or regulatory policies. As such, keeping track of these metrics is crucial for individuals and businesses operating within the industry. By monitoring these trends, one can make informed decisions regarding investment, selling, or purchasing properties, maximizing their returns and minimizing risks. 

NWA Active housing inventory for sale compared to pre-pandemic levels: Shift between April 2019 and April 2024

The COVID-19 pandemic has left a remarkable impact on the housing market in Northwest Arkansas. A closer analysis of the active housing inventory available for sale between April 2019 and April 2024 signifies a considerable shift. Over this period, there has been a 14.47% decrease in housing inventory, indicating a significant adjustment in the available housing stock. In April 2019, the inventory of homes stood at 1,396, whereas by April 2024, the number had decreased to 1,194 homes, reflecting a notable reduction in the available housing options for potential buyers in the region.

One-year change in active housing inventory for sale: Shift between April 2023 and April 2024

Between the period from April 2023 to April 2024, the housing inventory for sale in Northwest Arkansas witnessed a noteworthy change. The active inventory for sale increased by an impressive 18.22%, with the number of homes for sale rising from 1,010 in April 2023 to 1,194 homes in April 2024. This significant expansion in the housing stock within just one year may indicate a shift in the local real estate market, potentially driven by increased development and construction activities in the region.

The upsurge in the housing inventory may significantly impact various factors such as housing affordability, buyer demand, and market competition in Northwest Arkansas. With more homes available for sale, there may be a potential increase in competition among sellers and a decrease in prices, making housing more affordable for potential buyers. The rise in inventory may also indicate an increase in buyer demand, which could lead to further development and construction activities in the region.

In conclusion, the increase in active housing inventory for sale in Northwest Arkansas between April 2023 to April 2024 represents a significant shift in the local real estate market. It is crucial to monitor the market trends in the coming years to understand the potential long-term impacts of this surge in housing inventory. To summarize the current state of housing markets, we are observing a slight relaxation in many areas due to the impact of higher mortgage rates that have curbed the enthusiasm of the pandemic-induced housing boom. Nonetheless, home prices in most housing markets, such as Northwest Arkansas, are still experiencing an upward trend despite this softening.

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