FAYETTEVILLE, Ark. (KNWA) — City reports show residential home permits are rising in Fayetteville.
According to documents from the City of Fayetteville Building Safety Division, total building permits in Fayetteville are up more than 22% from the same time last year.
Among the most development this year is apartment units, which is up more than 400% from last year.
Matt Dickhut, a real estate sales professional for Collier & Associates, says the market as a whole is experiencing a lot of new construction, and the city is benefiting from it.
“There’s starting to be a little bit of diversity as to what is being built with these permits. Buyers will have a little better option of what they want to chose, the style of house, the location, walkability, the square footage size. Builders are recognizing all areas of the need in the market,” Dickhut said.
The total permit valuation for the third quarter of 2018 is $350 million.
That means $1.5 million was brought to the city from permit fees.
Dickhut says this is good news for buyers because more inventory is becoming available.