realestate

Bentonville emerges as US real estate market's hottest new destination

Bentonville, Arkansas experiences rapid growth in population and real estate.

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entonville, Arkansas is rapidly becoming one of the most desirable places to live in the US, with its population and real estate market experiencing explosive growth in recent years. The city's transformation from being primarily known as Walmart's hometown has made it a hotspot for new residents, businesses, and high-profile executives.

    The city's population grew by 2.7% in 2023, with a 9.8% increase since 2020, and experts predict this trend will continue well into the future. The real estate market is red-hot, with nearly 4,800 home sales in the first half of the year, driven largely by new construction. However, inventory remains tight due to homeowners holding onto their properties due to low interest rates.

    Walmart's recruitment efforts have been a key factor in Bentonville's population surge, with many remote workers relocating to the area. The retail giant has asked employees to move to Bentonville, although they also have options to relocate to other cities. Many companies that do business with Walmart also have a presence in the area, contributing to the city's rapid expansion.

    The influx of new residents has put pressure on Bentonville's housing market, with an 8.5% jump in sales compared to the same period last year. However, the average home price has skyrocketed by 72.5% over five years, reaching $430,000 in the first half of 2024. Despite this, experts say the city's boom shows no signs of slowing down, particularly with Walmart's plans to open a new "Home Office" campus next year.

    Bentonville is also experiencing a slight shift towards a buyer's market due to rising interest rates and uncertainty surrounding the upcoming election. However, the city's transformation hasn't gone unnoticed by outsiders, with Blackstone COO Jon Gray praising it as a "bucket list" destination in a viral LinkedIn video.

Bentonville, Arkansas, becomes top US real estate market with rapid growth.