Huntsville’s ValleyMLS ranked among the Best in WAV Group’s Customer Experience Index

/in , , , , , , , /by

ValleyMLS was named a BEST MLS for 2024. The award was presented by WAV Group, the industry’s leading real estate consulting and research firm, conducting their second annual Customer Experience Index (CXI) for MLSs. WAV Group’s Customer Experience Index program scores MLS organizations on seven standardized key performance indicators (KPIs): overall satisfaction, customer service, training, technology, data quality, responsiveness, […]

Read more

Monthly report shows prices rising as mortgage rates stabilize

/in , , , , , , , /by

The monthly report for the month of January 2024, as compiled by the Huntsville Area Association of Realtors (HAAR), shows indications that the local real estate market is beginning to shrug off the sluggishness of the end of the year.  The addition of housing inventory continues apace, with 1738 units on the market in January, […]

Read more

Rate cuts likely delayed as economy hotter than projected

/in , , , , , , , , /by

The Consumer Price Index, tracking the economy during the first month of 2024, suggests that the Federal Reserve will be unlikely to cut interest rates until late spring at the earliest.  Data for January showed that the annual inflation rate registered at 3.1%. While this is a noticeable decrease from the 3.4% of December, economists […]

Read more

Real Estate Update: Inventory Squeeze Cools Mortgages

/in , , , , , , , /by

Mortgage application volume dropped by 7.2% last week, a drop that the Mortgage Bankers Association is attributing to intense competition among buyers for a relatively small number of units available.  Across the nation, applications for mortgages for purchasing homes specifically declined by 11% over the week, which represented a total drop of 20% year-over-year.  This […]

Read more

Downtown Huntsville’s Front Row finishes final steps leading to groundbreaking

/in , , , , , , , , /by

Essex Capital and Ascend Property Group have jointly announced the successful closure of a $115 million construction financing deal for Front Row. This substantial project, located in the heart of Huntsville’s downtown area, is positioned to be one of the Southeast region’s largest and most anticipated developments. Front Row will span over 11 acres, comprising […]

Read more

December 2023 stats cap challenging year for Huntsville’s market

/in , , , , , , , , /by

The Huntsville Area Association of Realtors (HAAR) has released its annual report for 2023, as well as the report for the month of December specifically.  2023 was a year defined by the interest rate shock, which reverberated throughout the entire real estate market. Would-be buyers found homeownership a more daunting prospect as 30-year fixed mortgage […]

Read more

Real Estate “Lock-In” effect weakens grip as market begins thaw

/in , , , , , , , /by

Housing and Real Estate statistics taken from the end of December 2023 indicate that the phenomenon of would-be buyers holding off until mortgage rates decline – an effect known as “lock-in” by the industry – has begun to weaken. This suggests that 2024 could see a turnaround from the sluggish pace seen since the twin […]

Read more

Huntsville’s apartment craze: Are multi-family rental developments taking over the city?

/in , , , , , , , /by

Over the past few years, a variety of changes have happened in North Alabama that have altered the landscape of the Rocket City. Once a rather quiet, smaller southern city, Huntsville has experienced an explosive influx of people. The catalyst for such population demographics in Huntsville, which surpassed the population of Birmingham back in 2021, […]

Read more

Huntsville City Council rezones Drake Farm in preparation for brand new development

/in , , , , , , , , /by

During Huntsville City Council’s most recent meeting, the Council passed a resolution assigning a zoning designation to Drake Farm, which is slated to be a major development for Huntsville.  Huntsville City Council approved the rezoning of the 88.78 acre Drake Farm site, lying on the north and south side of Cecil Ashburn Drive, and east […]

Read more

City Council approves $4M funds to improve historic Huntsville Summit Apartments

/in , , , , , , , /by

HUNTSVILLE, AL – Huntsville City Council adjourned their last meeting of the year this past Thursday with yet another full slate on the agenda. The Council ended a busy, and at times exciting, schedule in 2023 with a vote that authorized $4 million in Emergency Rental Assistance (ERA2) Program funds to Meridian Commons Ltd., which […]

Read more