In a response to the pressing issue of homelessness, the Huntsville City Council has approved two significant initiatives aimed at providing safe, affordable housing and critical support services to vulnerable populations within the community. The first initiative involves the approval of a project to construct a 42-unit multi-family development on Venona Avenue, utilizing funds partially […]
With interest rates hitting a two-decade high, many consumers across the Huntsville area wonder where rates are headed for the rest of 2024 and into 2025. Higher interest rates, along with higher prices have affected housing affordability where the median household income can no longer afford the median priced home in the Tennessee Valley. In […]
The Alabama Association of Realtors (AAR) released its Economic and Real Estate Report for February of 2024. Home sales across the state numbered 4,710 for the month of February. This not only marks a 0.5% increase from January, but it also bucks the historical trend of housing sales lagging in February. An increase in sales […]
On March 25, Bristol Development Group officially opened The Gallery, a nearly $25 million, 107-unit apartment community near Lowe Mill, to residents. Hosted by the Huntsville/Madison County Chamber of Commerce, a ribbon cutting ceremony was held to celebrate the grand opening. The Gallery offers studio, 1 and 2 bedroom apartment homes with communal spaces including […]
The Huntsville Area Association of Realtors (HAAR) has released its report for the month of February 2024. The Huntsville/Madison County market saw 545 houses sold in February, which is up from 378 sold in January, and 452 sold in February of 2023. There were 994 pending sales listed in February 2024, up from 919 in […]
The way people buy and sell real estate in America has changed dramatically, as the National Association of Realtors (NAR), has reached a legal settlement that will, among other things, end the “even-split 6% commission model.” Additionally, the agreement would resolve claims against NAR, over one million NAR members, all state/territorial and local REALTOR® associations, […]
Huntsville, AL has been a media favorite from US News and World Report, Southern Living, Money Magazine, and the Wall Street Journal. A common thread amongst these reports has been the uncanny affordability of homes within our city. A few years ago, you could purchase a nice starter home in one of the area’s best […]
During his 2024 State of the Union Address, President Biden made a number of policy proposals aimed towards addressing the ongoing crisis of housing affordability. Biden’s proposals included the establishment of a tax credit towards mortgages over the next two years, the elimination of title insurance fees for federally-backed mortgages, and an initiative to build […]
Across the country, pending sales have stalled, as interest rates have not only failed to decrease in accordance to the schedule established by the Federal Reserve’s planned scale back of its anti-inflation measures, but have actually ticked back up slightly, reaching 7% at the end of February. According to Redfin’s national survey, this has caused […]
HUNTSVILLE, AL – Huntsville’s residential building boom appears to be catching its breath after years of construction at a furious pace. However, with continued growth in population and new jobs, forecasts indicate that 2024 will still be higher than the 10-year average for residential construction, a study from the City’s Long-Range Planning Division reveals. The 2023 Huntsville Development Review […]
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