Real Estate

Home Builders Association of Fayetteville provides economic impact for Fayetteville City Council members

By Faith Hatton, posted 1 month ago

Members of the Home Builders Association of Fayetteville (HBAF) packed city hall during a regular city council meeting that took place on Monday, Sept. 18. 

During the public forum portion, HBAF President Adam Furr spoke on behalf of the organization to provide a snapshot of the economic impact of the industry and to highlight the value of new home construction to the City of Fayetteville. 

Key facts shared during the address included: 

  • In Fiscal Year 2024, new construction generated nearly $84,500 in property tax revenue for the City of Fayetteville, based on a sales volume of about $146 million.
  • In Fiscal Year 2025, with sales volume down to about $115 million and the property tax rate reduced from 57.95¢ to 44.95¢, the city collected $51,600.
  • He noted that the data reflected a drop of almost $33,000, or 39%, in new revenue from construction in a single year.

“But housing’s value goes far beyond tax revenue. Building just 100 homes supports about 300 full-time jobs — not only construction crews, but also local suppliers, mortgage lenders, engineers, real estate professionals, insurance agents, and small businesses that all benefit when homes are built,” shared Furr. “Here in Fayetteville, the Home Builders Association represents 520 member companies, which together account for an estimated 5,000 local jobs. These are paychecks for families, support for small businesses and the backbone of our local economy.” 

Furr also commented that the Council's decision to reduce the tax rate was intended to provide taxpayer relief, including for builders and developers, but stated that the combination of a lower rate and reduced sales has significantly limited what new construction contributes back to the city.

As he concluded his address to the council, Furr requested that the Council keep in mind the importance of new construction for the city’s financial health as they plan future budgets. He also encouraged them to explore alternative revenue streams and support policies that encourage steady housing developments.

“The housing industry remains one of the strongest engines for Fayetteville’s economy. We look forward to continuing to work with you to build homes, strengthen neighborhoods, and grow our community together,” concluded Furr. 

The full meeting can be found on the city’s website here

Ico insights

INSIGHTS

SPONSORS' CONTENT

In The Current Issue

A salute to service: LTG Braga relinquishes USASOC command

U.S. Army Special Operations Command Acting Commanding General, Brig. Gen. Kirk Brinker, gives a speech as USASOC bids farewell to Lt. Gen. Jonathan Braga after serving four years as its commanding general outside the USASOC Headquarters at Fort Brag


Fall for Dogwood: The Fayetteville Dogwood Fall Festival returns in 2025

Graphic provided by Fayetteville Dogwood FestivalGood music, food and fall themed fun for all ages will swirl into Festival Park with the falling leaves this season. On Oct. 18 and 19, The Dogwood Festival will be returning for the fall. This free fe


Lending perspectives: Local banks respond to recent federal rate cuts

 Chair Powell answers reporters' questions at the FOMC press conference on Sept. 17, 2025. Photo provided by the Federal Reserve.On Wednesday, Sept. 17, the Federal Open Market Committee (FOMC) announced that it had decided to lower the target r