Northwest Arkansas home construction up in March, for the year

Northwest Arkansas

by Paul Gatling ([email protected]) April 28, 2020 2:53 pm 761 views 

The COVID-19 pandemic buckled the U.S. home-building sector in March but had scant impact on residential construction activity in Northwest Arkansas.

Home-building activity in Northwest Arkansas’ four largest cities was up 4% in March — 153 permits issued compared with 147 permits in March 2019.

Nationally, housing starts dropped 22.3% last month, according to the U.S. Department of Commerce. That was the largest monthly decline in starts since March 1984.

Building officials issued the greatest number of residential permits in March in Rogers — 43 of them with a combined value of $11.11 million. That compares with 35 permits valued at $9.34 million in March 2019.

Activity from other cities was:

  • Fayetteville: 39 permits, $11.16 million (March 2020); 52 permits, $17.3 million (March 2019).
  • Springdale: 36 permits, $8.34 million (March 2020); 16 permits, $4.25 million (March 2019).
  • Bentonville: 35 permits, $11.16 million (March 2020); 44 permits, $12.96 million (March 2019).

Residential building activity through the first quarter is up 7.6% in Northwest Arkansas’ four largest cities. Permits totaled 364 through the first three months this year, compared with 338 permits in the same period of 2019.

Home construction doesn’t show any sign of slowing in Bella Vista. Permits were up 88% in March from the same month last year (from 17 to 32) and 58% through the first three months compared with the same period last year (from 62 to 98). Permit values were up 56.1% in March (from $5.11 million to $7.98 million) and 36.7% year-to-date (from $18 million to $24.6 million).