LITTLE ROCK, Ark.- The COVID-19 pandemic is hurting out economy in more ways than one.
Here in Arkansas, housing construction was disrupted but not stopped. However that seems to be changing.
Metroplan released a 2020 economic review and outlook, detailing COVID-19 and our Economy.
A report shows some cities are quickly getting back on track despite cases climbing.
“I think COVID-19 really helped as far as let move now becuase it turned the market into what we needed it to be,” said Amanda Reed, Bought new home.
Amanda Reed sold her North Little Rock home, bought a home during construction and moved all during the pandemic.
“A house would go on the market then turn around and be gone in a matter of days so newer build was the easiest, fastest way for us to go,” said Reed.
Reed’s realtor, Nichole Collins says she didn’t see much of a show down since the beginning of COVID-19.
“Lack of inventory is driving a lot of people to start new construction,” said Nichole Collins, Realtor.
Metro plan released this graph showing the trend in new single family housing unit construction from 2019 to 2020.
Both US and local construction dropped during the lockdown in April but by July it was back on track.
“Theres so many houses going up right now, it feels like its just exploding,” said Reed.
Some Arkansas cities, such as Benton, North Little Rock and Hot Springs Village, saw more construction in 2020 than previous years according to the report.
“2020 The market is hot and its rolling over into 2021,” said Collins.