How the pandemic is affecting home sales in Arkansas

There's just an influx of buyers, and honestly, I think I got very lucky. Local agents say northwest, Arkansas and the River Valley face housing shortages, and with mortgage rates being low, it makes the area a seller's market the past six months. If we have really seen, um, just a decrease in the amount of inventory that's become on the market. And so when a good house comes on the market, you see anywhere between 10 and 15 offers for one house, so it's very competitive. It's good for new construction and people looking to sell, but presents challenges for buyers like Tara McDonald. Sometimes she would send me something in the morning, and by the time I click on it an hour later, it already defending. While it appeared that there were a lot of there was a lot of availability, there just really wasn't, um, in all actuality. McDonald is moving from Dallas to northwest Arkansas. One thing she noticed was how fast homes were going from sale to sold. I felt like there were options, things that came available, but almost before you could even see them, they would go 10 days, so it was it was a little chaotic. Realtors from N. W. A. To the River Valley, say, during the coronavirus pandemic they've seen many people move from cities to rural areas and suburbs for more space. People are working from home still, and they want more space. So our locals that are wanting Thio, you know, move up in the house. They're not only competing with just other locals. They're competing with people from different states, and some looking for land are We're dealing with Nebraska, Nevada and Texas. They and you know, they're looking for, ah, lot of the concessions that Arkansas offers as far as landowners for for cattle. And then the seclusion you find in Arkansas, along with the way the country looks, that it's pretty country. And Tara McDonald, with the help of Michelle Brock, the realtor there was able to get her house offer accepted just last night, and realtors were saying, a year into the pandemic, there are a few trends that have been helping Homebuyers who are searching for, uh, their home, including a home office

We asked housing experts about the the state of the real estate market nearly a year after the pandemic began in the Natural State. Existing U.S. home sales rose 0.6% in January from the previous month to a seasonally-adjusted rate of 6.69 million annualized units, the National Association of Realtors said Friday. According to the Associated Press, sales jumped 23.7% from a year earlier. It was the strongest sales pace since October and the second highest since 2006.Watch the video above to learn more.40/29 News spoke to realtors in Northwest Arkansas and the River Valley who say that our area is a "sellers market." Often, homes for sale get put on the market and, within a few hours, several different offers have been received. "There is an influx of buyers. In the past six months we've seen a decrease in the amount of inventory. When a good house comes on the market, you see between 10 and 15 offers on one house. It's very competitive," Michelle Brock, a real estate specialist with Collier & Associates said. When it comes to trends in home buying, Brock said that people are looking for more space."People are working from home still, and they want more space. Also, our locals who may want to move up in a house. They are not only competing with other locals, they are competing with people moving here from other states," Brock said. Aaron Brewer with Mountain Vista Real Estate said that many people are also taking advantage of the low interest rates to buy investment properties. "They are turning around and buying less desirable homes for investment purposes. And, then some are flipping them for better property than what we've had in the area." Brewer said that the growth in new construction and the uptick in the housing market is good for Arkansas communities in the long run.

BENTONVILLE, Ark. —

We asked housing experts about the the state of the real estate market nearly a year after the pandemic began in the Natural State.

Existing U.S. home sales rose 0.6% in January from the previous month to a seasonally-adjusted rate of 6.69 million annualized units, the National Association of Realtors said Friday.

According to the Associated Press, sales jumped 23.7% from a year earlier. It was the strongest sales pace since October and the second highest since 2006.

Watch the video above to learn more.

40/29 News spoke to realtors in Northwest Arkansas and the River Valley who say that our area is a "sellers market."

Often, homes for sale get put on the market and, within a few hours, several different offers have been received.

"There is an influx of buyers. In the past six months we've seen a decrease in the amount of inventory. When a good house comes on the market, you see between 10 and 15 offers on one house. It's very competitive," Michelle Brock, a real estate specialist with Collier & Associates said.

When it comes to trends in home buying, Brock said that people are looking for more space.

"People are working from home still, and they want more space. Also, our locals who may want to move up in a house. They are not only competing with other locals, they are competing with people moving here from other states," Brock said.

Aaron Brewer with Mountain Vista Real Estate said that many people are also taking advantage of the low interest rates to buy investment properties.

"They are turning around and buying less desirable homes for investment purposes. And, then some are flipping them for better property than what we've had in the area."

Brewer said that the growth in new construction and the uptick in the housing market is good for Arkansas communities in the long run.

How the pandemic is affecting home sales in Arkansas

TRACKING THE COVID-19 VACCINE