Real Estate

The Northwest Arkansas metro area is considered among the top real estate markets in the U.S. to watch this year, according to the National Association of Realtors.

• Benton and Washington counties are No. 4 on the list, behind Atlanta, Raleigh, North Carolina and the Dallas-Fort Worth metro.

Pest control companies and residents tell Axios there's a rat problem in east Fayetteville.

Why it matters: The animals can infest a home's attic and walls, contaminate food, carry disease and even spark electrical fires.

The start of a new year is a good time to reflect and goal-set for the future.

• Here are five trends and narratives we'll be watching as 2023 unfolds:

Home prices in the Northwest Arkansas metro area are expected to rise 3.7% by October 2023 compared to the same time in 2022, according to data from Zillow.

State of play: Existing home sales nationwide have fallen for nine months as mortgage rates were on the rise. They've been trending down over the past few weeks.

Despite rising mortgage rates and fewer listings, home prices continued to climb in most of Northwest Arkansas' ZIP codes from July to October, according to data from Zillow.

What's happening: The national housing market has cooled somewhat since the Federal Reserve started raising rates this summer in an effort to curb inflation.

Northwest Arkansas' real estate market is starting to level off, according to the latest data from Redfin/MLS.

Why it matters: Northwest Arkansas metro buyers longed for a little relief after two-plus years of plummeting inventory and sky-high home prices.

A trio of investment firms led by Dallas-based RREAF Holdings have closed a $500 million deal to snap up 10 multifamily properties in seven states. Glen at Polo Park in Bentonville and River Pointe in Maumelle are part of the transaction.

The big picture: Investors see the promise of economic growth across the South as workers migrate for jobs, affordable housing, quality of life and warmer climes.

Less than 1% of warehouse space in NWA is available for lease — meaning there is functionally zero square footage to rent.

• The vacancy rate has fallen sharply from the 5.3% available at the beginning of the year.