Insights from Cushman & Wakefield | Sage Partners’ Q2 Report
- Despite interest rates slowing down the commercial sales volume in NWA, the economy remains strong.
- Unemployment rates for Washington and Benton county stand at 1.7% and 1.9%, respectively, with an overall metro unemployment rate of 1.9%, compared to the U.S. unemployment rate of 3.6%.
- NWA had a 5.3% increase in non-farm employment since April of 2022.
- Average weekly wages for the region range from $1,073 in Washington County to $1,269 in Benton County.
- It was recently reported by the NWA Council that 36 people/day are moving into NWA to call it home. Construction and Logging employment has increased 11.7% YOY as developers and homebuilders try to
accommodate homes and apartments for those moving into the area. - Even with all the growth happening in NWA, it is not immune to the rise of interest rates in 10 of the last 11 Federal Reserve meetings. Commercial sales have declined by 34.2% YOY in Q2, however, that
measurement is compared to Q2 of 2022, which saw the third most sales for any quarter in NWA in history, which is a large reason for such a significant YOY decline.
