NWA Building Permits Highest Recorded in 12 Years, According to Report

News

Building permits moved upward in the second half of 2018, according to The Skyline Report. 

The last half of 2018, 1,534 building permits were issued, a 7 percent increase from the same period, the report states.

For the entire year, 3,338 buildings were issued making it the highest since 2006. 

The two cities that had the most permits issued were Fayetteville and Bentonville — they are accounted for 35 percent. 

Siloam Springs had a building permit increase of 32 percent from 2017 to 2018.

Both Rogers and Springdale saw a decline from the previous year.

Rogers in 2017 had 142 permits and in 2018 136 permits.

As for Springdale, in 2017 there were 163 permits and 75 in 2018 building permits. 

Arvest Bank sponsors the Skyline Report, and the Center for Business and Economic Research (CBER) at the University of Arkansas’s College of Business compiles the data. 

CBER Director Mervin Jebaraj said they consider this increase to be a factor of “timing more than shrinking demand for new homes or overbuilding.”

The goal of The Skyline Report is to “provide timely statistical analysis of the NWA multifamily real estate market.”

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest Video

Local News Video

DON'T MISS

More Don't Miss

Trending Stories

Mega Millions & Powerball Numbers