Northwest arkansas' housing market has cooled from 2022


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NWA's housing market has slowed from its heyday of early 2022, according to data from Redfin. Current sales are roughly on par with the national rate. WHY IT MATTERS: It's good


news for buyers wanting to take time to shop for a home rather than make offers above asking price, sight unseen. THE BIG PICTURE: Supply issues continue to affect home prices across the


U.S., despite mortgage rates dampening demand. * This is particularly true in parts of California and the Northeast. Homes in both regions are selling quickly — and above asking — per


Redfin. * In the South, however, supply is picking up and markets are cooling down. ZOOM IN: The number of homes sold during the last half of 2023 was down 2% from a year earlier and prices


dipped slightly, according to the biannual residential Arvest Skyline Report. BY THE NUMBERS: The average selling price for a single-family home in Benton County during the second half of


2023 was $420,144, down 0.6% from six months earlier. It was $386,695 in Washington County, down 1.4%. THE BIG PICTURE: Florida and Texas may be hotter than ever, but their housing markets


are cooling quicker than most other regions, according to Redfin. * New-home construction, unaffordable home insurance and intense natural-disaster threats contribute to increased supply and


lesser demand. * Homes aren't moving off the market as quickly, and a growing share of sellers are lowering asking prices — all signs these markets are cooling down. * YES, BUT:


Florida and Texas were the poster children for the pandemic price boom, so home prices are much higher than five years ago. WHAT'S NEXT: Some relief could be coming for buyers on the


mortgage rate front.