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Bentonville, Arkansas, has experienced notable growth in recent years. Its population increased by 2.7% from 2022 to 2023, reaching 59,471 residents.

Its population in 2020 was 9.8% less than it is today. The population boom is boosting Bentonville's real estate market, which saw an 8.5% increase in home sales during the first half 2024 compared to a year ago, Katlyn Munch, an agent with The Agency Bentonville, told Fox Business.

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Benton County and two neighboring counties recorded 4,799 home sales in the first half the year, according to Arvest Bank and the University of Arkansas' Skyline Report.

That's a 2.7% increase compared to the second half 2023. Munch said that 39.5% of the homes sold were newly built.

"We're at an all-time low inventory rate," Kaala House, managing partner of The Agency Bentonville, told Fox Business. "There's a lot of people that are holding on to that COVID two-point interest rate and so we've got a lot of people that are holding their homes that they don't want to sell because they have such a great rate and then prices have gone up so much since that time, too. So we have a lot of new construction inventory right now."

Located in northwestern Arkansas, Bentonville is home to several major corporations, including Walmart, J.B. Hunt and Tyson Foods. The area's strong economic growth has attracted a steady flow of new residents and businesses.

Walmart requires remote workers to relocate to Bentonville and the surrounding area and many companies that do business with Walmart have a presence in the area, contributing to the influx of people to the region.

Projections from the Northwest Arkansas Regional Planning Commission estimate that the region's population could surpass one million by 2050, further driving Bentonville's real estate market. This has led to a surge in demand for housing, commercial properties and various amenities.