Few NWA homes are prepared for electric vehicles, despite increase
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About 0.68% of homes listed for sale in Northwest Arkansas in 2023 were prepared for electric vehicles, according to data from Realtor.com and Cox Automotive. That's up from 0.01% in 2018.
Why it matters: Homes with electric vehicle chargers could hold greater resale value as more car buyers make the switch, Realtor.com chief economist Danielle Hale says.
How it works: EV-friendly homes are properties featuring terms like "electric vehicles" and "240-volt outlet" in the listing descriptions.
The big picture: Access to at-home EV charging is a rare and increasingly desirable amenity nationwide.
Between the lines: Home chargers are often more convenient than public ones, and faster than charging cables that come with most EVs.
- The typical installation runs between $548 and $1,382, per HomeAdvisor.
Flashback: The Arkansas Department of Transportation in April awarded nearly $15 million to 19 electric-vehicle charging station projects across the state.
Reality check: You've got time to install that charger. EV adoption hasn't been swift, Axios' Joann Muller reports.
The big picture: A small but growing share (0.9%) of U.S. homes listed on Realtor.com in 2023 were described as EV-friendly, up from 0.1% five years earlier, according to the company's and Cox Automotive's report.
- Home chargers are more common in areas with high EV ownership rates.
Note: Cox Automotive's parent company, Cox Enterprises, also owns Axios.