According to Freddie Mac, the national average interest rate for a 30-year fixed-rate mortgage has been declining slightly over the past three weeks, with the national rate reaching a low of 6.32% for the week of March 30, 2023. This dip in rates has led to an uptick in new mortgage applications, with the Mortgage […]
It’s April, and spring is in full swing, with its warm weather and enough pollen in the air to choke a yak. For those in the business of real estate, spring also represents the revitalization of the market, as both buyers and sellers shake off winter seasonal malaise and get back down to business. April […]
The latest weekly report from the Huntsville Area Association of Realtors (HAAR), dated for the week ended March 18, demonstrates that the inventory of homes for sale in Huntsville/Madison County has continued to increase. The inventory of single-family units saw a 92% increase, up to 2,508 homes, while townhouses and condo units saw a 66% […]
The Huntsville Area Association of Realtors (HAAR) has released its monthly report on the state of the market over the month of February. Of the various statistics compiled in the report, the dramatic increase in average time spent on the market stood out the most. The average time a house in Huntsville-Madison County spent on […]
According to Realtor.com’s most recent monthly housing report from February, active listings of homes for sale were up 65.2% relative to January. This number still represents a 43.2% decrease from 2019’s pre-pandemic levels, however, it is indicative of construction and real estate picking back up from the shutdown. Here in Huntsville, the latest figures, accurate […]
The Alabama Association of Realtors (AAR) has released the latest issue of its new, monthly report on the state of Alabama’s real estate market. The issue covers statewide market statistics compiled from the month of January. “Average home prices have declined but remain high relative to pre-pandemic levels affecting housing affordability,” said Alabama REALTORS® 2023 […]
The Huntsville Area Association of Realtors (HAAR) has released their monthly report for the month of January. The report indicates that the average price of a single-family home in Madison County dropped by around $17,000 from December 2022. With a total of 1493 homes on the market, the inventory of units available for purchase has […]
The residential real estate market continues its winter slump, even as the feverishly-high mortgage rates of the previous year have begun to come back down to Earth. According to the Huntsville Area Association of Realtors, pending sales of single-family homes decreased by 1% in the final week of January, while townhouse/condo sales saw a larger […]
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 […]
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