New mortgage financing policies from Fannie Mae and Freddie Mac are poised to shake up the housing market for 2023. Loan Level Price Adjustments (LLPAs) are determined by a number of factors, most prominently the borrower’s credit score and debt-to-income ratio (DTI), among others. The new policies concerning LLPAs will reduce the cost incurred for […]
The Huntsville Area Association of Realtors (HAAR) has released its monthly figures for December of 2022. The report caps off a year defined by the rapid deceleration of the market via inflation and interest rate hikes. Nationally, pending sales have dropped by 37.8% from December of 2021, as reported by the National Association of Realtors […]
The big news in the real estate market this week has been the slight uptick in the average rate of a 30-year fixed rate mortgage. According to Freddie Mac, the mortgage rates had been steadily declining for five weeks prior to the week ending December 29, 2022. This led to a drop of three-fourths of […]
2022 was a year marked with a sharp, shocking rise in inflation and then interest rates, which reverberated throughout the real estate market. Despite these events, and the subsequent slowdown of the housing market, the prognosis for Huntsville’s real estate market for 2023 is surprisingly positive. As reported earlier this month, the National Association of […]
Weekly statistics for the Huntsville/Madison County residential real estate market, compiled by the Huntsville Area Association of Realtors (HAAR), continues to show a trend of general slowdown. The report, accurate as to December 10, 2022, shows that both new listings and pending sales for single-family units continued to decrease, with listings down 27% and pending […]
The Huntsville Area Association of Realtors (HAAR) has released its report on the state of the region’s real estate market for the month of November. The immediate takeaway is that the effects of the interest shock are continuing to work their way through the market. While the inventory of both single-family units and townhouse/condos have […]
The National Association of Realtors (NAR) has compiled a list of the top ten real estate markets that bear watching for the upcoming year. The ranking was unveiled at the NAR’s fourth annual year-end Real Estate Forecast Summit. All ten metropolitan areas on the list are located within the South. These markets were selected due […]
Inventory of residential real estate units continues to climb from its nadir of last year, both nationally and here in Huntsville. Reporting from the University of Alabama’s Center for Real Estate tracks real estate inventory listed for sale in the Huntsville area dating back to October 2012. From a peak of 3,192 in October of […]
According to Federal Reserve Economic Data (FRED), the national rate of homeownership across the United States saw a slight uptick in Q3 2022. The percentage of owner-occupied homes rose 0.6 points relative to Q3 2021, to a total of 66%. This increase occurred despite the inflation and mortgage rate shocks that jolted the market this […]
The Huntsville Area Association of Realtors (HAAR) has released their monthly statistics for the month of October, 2022. At a total of 630 residential units sold in Madison County, down from 825 in October the previous year, the slowdown is shown in stark relief. Houses stay on the market for an average of 14 days, […]
