Arkansas housing market red hot as more buyers looking for homes

Local News

LITTLE ROCK, Ark.- If you are looking to sell your home, realtors say now is the time.

The housing market is getting hotter by the day.

“I’ve never seen anything like it, it’s the hottest market I’ve ever seen,” said Carolyn Cobb, Executive Broker for Coldwell Banker RPM group, “as soon as you can get a home on the market, its going to have 15 offers on it in the first half day.”

Carolyn Cobb is an Executive Broker for Coldwell Banker RPM Group, she said inventory is at an all-time low while the need for houses is at an all-time high.

So, whenever a house is listed, it becomes a revolving door.

“They’re scheduling showings for every 15 minutes,” said Cobb.

Cobb said right now, 32 percent of the homes sold in Arkansas in March, sold for more than the listing price. She said some people are showing up with cash, which is unheard of.

“It’s just crazy,” said Cobb.

After a year in the pandemic, Cobb said she thinks that’s playing a role in the market.

“Everybody is getting out, everybody wants to buy, everybody wants a new experience, whether downsizing or upsizing,” said Cobb.

With more buyers looking every single day, Cobb said it’s predicted the market will stay hot for at least a year.

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