After selling their condo in Spring of 2020, Little Rock resident Elizabeth Michael and her husband started looking for a place in Hot Springs, both to rent out as an Airbnb and use as a weekend getaway. It was around November before they were even able to get an appointment to see one that met their criteria.
“We would call a Realtor and say we want to see XYZ property and by the time we got 20 minutes down the road from Little Rock, they’d call and tell us it was already under contract,” she said.
Michael said she was “deflated” by the market and the pace at which properties were selling.
“I was shocked, literally shocked. I’ve never encountered something where you want to spend money so badly and you can’t. Normally they make it really easy,” she said.
Michael’s experience reflects a larger pattern. Hot Springs Board of Realtors data sent by President Rob Pfautz shows the average number of Days on the Market for Garland…