Little Rock Home

Searching homes for sale in Little Rock, AR is simple. This tech-driven firm gives our real estate agents the means to buy or sell your home efficiently.

New Construction Home Starts Tumble

April 20, 2020 By admin Leave a Comment

New construction homes in Little Rock are in demand for several key aspects. New homes generally have strict quality control standards, updated styles, advanced construction methods, and often an improved energy efficiency rating when compared to older existing homes. And most Arkansas builders offer extensive home warranties for their Little Rock new homes for sale.

New Construction Homes in Little Rock, ARHave you also notices how a strong economy drives a strong housing market? The U.S. has fortunately benefited from a great economy lately, and Arkansas’s housing market has reaped the rewards. For that reason, it’s common to believe when that home building increases when home values break records. Let’s take a closer look at how today’s construction pace compares to past years.

New Construction Trends

According to housing market trends published in 2017 by the U.S. Department of Housing and Urban Development, the rate that new construction homes in Little Rock, AR are being built is significantly lower than historical numbers. And real estate is a much different market today, and it’s unclear if new construction ever returns to previous levels.

New Construction Homes in Little Rock, ARFrom 2017-2020, demand for new homes in Little Rock and the surrounding area was projected to be 4,325 units, and sales demand was expected to accelerate in 2019 and 2020 with population growth. Single-family homes in the $110,000 to $199,999 project the highest demand, with a median price around $175,000. According to the Arkansas Democrat Gazette, that projected increase in construction demand appears to have materialized prior to the global Coronavirus crisis.

Projections - Little Rock New Homes for Sale

According to numerous resources, the cost per square foot for new construction homes in Little Rock also increased significantly during the last several years, which tends to slow down the rate of development. Construction cost increases are attributable to increased demand for materials, including lumber, roofing, steel, and cement and lumber. Higher labor costs can also cause delays, especially with a shortage of residential construction workers like we’ve seen.

Where’s New Home Construction in Arkansas headed from here?

As the crisis surrounding Covid-19 heaps additional damage on the American economy, construction of new homes collapsed in March with housing starts tumbling 22.3% from the previous month. Single-family home starts were down 17.5%, and multi-family condo and apartment starts were down 32.1%.

These decreases appear more grim considering 20 million Americans lost their jobs in the last month. People without jobs usually can’t buy homes because they cant get a mortgage. That’s why growth in the housing market is so dependent on the unemployment rate and labor force participation rate. The Arkansas real estate market was churning along at record levels prior to this crisis. A strong housing rebound seems contingent on life returning to ‘normal’ from the virus. Let’s hope that happens, and things move swiftly.

More information and projections on the Little Rock-North Little Rock-Conway, Arkansas HMA can be seen in HUD’s useful reporting.

Filed Under: Little Rock Real Estate

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Contact Fathom Realty

Search:

Why Fathom

Fathom Realty is an amazing company that provides excellent leadership, mentor training, CRM system and many other tools to make an agent successful. The brokerage does a wonderful job of making all agents feel welcomed, connected and equipped to grow their business.

~ Andy Alvarado

I have been with a major agency, an independent and owned my own brokerage. I can say without question Fathom is the best option out there for the majority of agents. Top level tech, first class support, training and so many other items that other brokerages simply can’t offer… All for a small flat fee. Did I mention a leadership with a servant’s heart?

~ Brent Rickards

  • Sell Your Home
    • List Your Home
    • Valuation Report
    • Market Report
  • Property Search
    • Little Rock
      • Homes For Sale
      • Latest Listings
      • New Construction
      • Open Houses
    • West Little Rock
      • Homes for Sale
      • New Listings
      • New Construction
      • Open Houses
      • Woodlands Edge
      • Pleasant Valley
      • Chenal Valley
      • Brodie Creek
    • North Little Rock
      • Homes For Sale
      • Latest Listings
      • New Construction
    • Maumelle
      • Homes For Sale
      • Latest Listings
      • New Construction
    • Sherwood
      • Homes for Sale
      • Latest Listings
      • New Construction
    • Cabot
      • Homes for Sale
      • New Construction
    • Benton
      • Homes for Sale
      • Latest Listings
      • New Construction
    • Bryant
      • Homes for Sale
      • Latest Listings
      • New Construction
  • Buy a Home
    • Homes For Sale
    • Houses for Sale
      • Little Rock
      • West Little Rock
      • North Little Rock
      • Sherwood
      • Maumelle
      • Bryant
      • Benton
      • Mayflower
      • Scott
      • Conway
    • Condos for Sale
      • Little Rock
    • About the Process
  • Contact Us

West Little Rock

Chenal Valley Homes in Little Rock AR

Chenal Valley

West Little Rock

Brodie Creek Little Rock Homes for Sale

Brodie Creek

Maumelle

Houses for Sale in Maumelle AR

The Country Club Of Arkansas

West Little Rock

Pleasant Valley Little Rock Real Estate

Pleasant Valley

West Little Rock

Westcliffe Luxury Homes for Sale in Little Rock, AR

Westcliffe

West Little Rock

Houses for Sale in Woodlands Edge Little Rock AR

Woodlands Edge

West Little Rock

The Villages at Wellington Homes for Sale in Little Rock AR

The Villages of Wellington

Little Rock

Hillcrest Little Rock

Hillcrest

West Little Rock

St Charles Neighborhood Little Rock Homes for Sale

Saint Charles

Ferndale

Ferndale Homes in Little Rock AR

Ferndale

Benton

Hurricane Lake Estates Homes for Sale in Benton AR

Hurricane Lake Estates

North Little Rock

Park Hill Homes for Sale in North Little Rock, AR

Park Hill

Little Rock

River Market Little Rock

River Market

West Little Rock

Homes for Sale in West Little Rock, AR

The Ranch

West Little Rock

Houses for Sale in West Little Rock, AR

Valley Falls Estates

Cabot

Greystone Cabot Homes for Sale

Greystone

Archives

  • July 2020
  • April 2020

Categories

  • Little Rock Real Estate

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org
Fathom Realty

Local:       1.501.817.8210
Toll Free: 1.800.933.3050

Spencer Llewellyn

REALTOR®
Fathom Realty

My name is Spencer Llewellyn and I’m a licensed Arkansas Realtor® who personifies hard work, determination, competence, and integrity in every aspect of your real estate deal. Before becoming a real estate agent and right-of-way professional for America’s energy industry, I worked for years in home finance as a mortgage loan officer. That unique experience inside banks and national lending institutions shaped a wide-ranging and valuable knowledge of residential transaction processes and home loan programs. I put that background to work for all my valued clients, always striving to prevent unwanted delays and unnecessary headaches when you’re buying or selling a home.

  • Facebook
  • Phone
  • Twitter

ABOUT FATHOM REALTY

Fathom Realty is an agent-owned real estate company that’s consistently ranked as one of the fastest growing real estate brokerages in America on the Inc. 500, and for good reason. Fathom’s cloud-based, technology-driven, full-service real estate solutions provide our agents the ability to deliver outstanding results for our clients.

Arkansas Office Locations

With offices conveniently located in Central Arkansas and Northwest Arkansas, Fathom’s professional real estate agents in Little Rock, AR will go above and beyond to help you accomplish your goals.

Fathom Realty Central

10515 West Markham Street
Suite E3
Little Rock, AR 72205

Fathom Realty Northwest

2879 West Walnut Street
Suite 101
Rogers, AR 72756

  • West Little Rock Homes for Sale
  • Maumelle Homes for Sale
  • North Little Rock Homes for Sale
  • Sherwood Homes for Sale
  • Little Rock Homes for Sale
  • Bryant Homes for Sale
  • Benton Homes for Sale

Copyright © 2023 LittleRockHome.com and Fathom Realty Central. All Rights Reserved.

Terms of Use · Privacy Policy · Fair Housing Statement · Property Listings Sitemap

Equal Housing LogoMLS Broker ReciprocityMLS Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Cooperative Arkansas REALTORS® Multiple Listing Services, Inc. Real estate listings, held by brokerage firms other than Fathom Realty, are marked with the Broker Reciprocity℠ logo and information about them includes the name of the listing brokers.Internet

Listings Disclaimer: No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements of properties shown on this website. Prospective buyers are advised to verify information to their own satisfaction prior to purchase. Fathom Holdings, Inc and its owned subsidiaries disclaim any liability for any typographical errors, misinformation, misprints and shall be held fully harmless. All properties shown are subject to prior sale, change or withdrawal. Listing information is provided for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some listings on this site are not listed by Fathom Realty. Real estate listings held by other brokerage firms will include the name of the listing broker(s) when required by the MLS.

Wire Fraud Advisory: IMPORTANT NOTICE: Never trust wiring instructions sent via email. Cyber criminals are hacking email accounts and sending emails with fake wiring instructions. These emails are convincing and sophisticated. Always independently confirm wiring instructions in person or via a telephone call to a trusted and verified phone number. Never wire money without double-checking that the wiring instructions are correct. Please exercise caution when sending money via a wire transfer. This Important Notice is not intended to provide legal advice. You should consult with a lawyer if you have any questions.