Entries by Marie Johnson

Real Estate Update: Recent report shows seasonal slowdown

The Alabama Association of Realtors released its October 2024 Alabama Economic and Real Estate Report.  The report indicated a slowdown in real estate sales across the state, which the report attributed to a combination of high interest rates, which spiked up to 6.72% by late October, and seasonal slowdown typical for fall.  Alabama recorded 4,880 […]

Leidos donates $1.75m to Drake State, advancing opportunities in advanced manufacturing

Leidos has pledged $1.75 million to Drake State Community & Technical College in Huntsville, Alabama. This landmark donation will enhance educational opportunities, providing students with hands-on experience in advanced technical and manufacturing fields. In honor of the gift, Drake State’s upcoming advanced manufacturing facility will be named the Leidos Advanced Training Complex. “At Leidos, we […]

Real Estate Update: NAR projects increased sales, inventory for 2025

National Association of Realtors Chief Economist Lawrence Yun, speaking alongside NAR Deputy Chief Economist Jessica Lautz, discussed projections for the real estate market in 2025 at an NAR event at Boston. “We’ve seen after presidential elections—and it doesn’t matter who wins—that there’s usually a slight boost in home sales,” Yun said. “It removes some uncertainty. […]

Real estate update: Sales uptick both nationally and locally

The September monthly report from the National Association of Realtors showed a jump of 7.4% in pending sales compared to August, with a 2.6% year-over-year increase in contract signings in September.  NAR Chief Economist Chief Economist Lawrence Yun weighed in on these developments, attributing the rise to “the combination of lower mortgage rates in late […]

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 […]