Entries by Marie Johnson

September real estate monthly report shows inventory gains across Alabama

The Alabama Association of Realtors (AAR) has released its monthly economic report for the month of September, 2024.  The report showed that Alabama has a 4.6 months’ supply of housing inventory. This marks a year-over-year increase of 1.3 months’ supply, and is the highest level in more than five years.  According to the Huntsville Area […]

Mortgage Rates surge as jobs report exceeds expectations, inventory grows in HSV market

The average 30-year fixed rate mortgage rate jumped an incredible 27 basis points Friday morning, following the release of a Labor Department report.  The report showed that the U.S. economy added many more jobs in the month of September, 2024 than had been anticipated, with unemployment falling to 4.1%.  This report is expected to convince […]

Alabama real estate market sees cooling trend as mortgage rates drop, report shows

The Alabama Association of Realtors has released their Alabama Economic and Real eState Report for the month of September 2024.  The report summarizes the state of the Alabama real estate market -the average of the entire state, not merely our own Huntsville/Madison County market – as ‘cooling, but robust.’  “As the traditional summer home-buying season […]

Real Estate market adjusts in anticipation of Fed Reserve cuts 

Interest rates remained flat during the first week of September, slowing down a multi-week decrease that experts attribute to the market preparing for the much-anticipated Federal Reserve cuts expected to be announced at the Fed’s next meeting, on September 18.  “I do believe in anticipation of this cut, most of the reduction has been built […]

Real Estate Update: Market primed as interest rates begin to drop

Real estate markets across the United States have begun responding to lowering interest rates.  In the first week of August, the average rate on a 30-year fixed rate mortgage dropped to 6.73%. As a result, the Mortgage Bankers Association reported that mortgage applications jumped 6.9% over that week, while refinance applications rose 16% over that […]

Local, national markets steady as Federal Reserve considers cuts

Reports from the U.S. Department of Commerce showed a year-over-year decline in the rate of core inflation over the month of June, down to 2.5% from 2.6% the previous year.  This marks the third consecutive month of year-over-year declining rates of inflation, the first signs that the inflation crisis, which has been at the heart […]

Alabama monthly Real Estate Report indicates brisk activity

The Alabama Association of Realtors (AAR) has released its Alabama Economic and Real Estate Report for June of 2024.  The report shows several indicators that the real estate market across the state is maintaining a strong and healthy level of activity.  “The latest data underscores a positive trend in our housing market, driven by economic […]

Real Estate Update: To Buy or Not to Buy?

The national real estate market has entered a period of cooling, as the combination of restricted inventory and high interest rates have driven down sales.  According to Redfin, which compiled a four-month report which concluded on June 30th, pending sales have declined an average of five percent over the four months.  Despite this decline in […]

Huntsville market defies post-pandemic regional bust cycle

The June Mortgage Monitor Report released by the Intercontinental Exchange (ICE) shows that many of the Southern real estate markets, which saw a boom during the Covid-19 Pandemic, have begun to bust as the pace of buying has slowed and surplus inventory reaches or even exceeds pre-pandemic levels.  Austin, Texas, for example, saw a 0.25% […]