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, […]
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 […]
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 […]
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 […]
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 […]
HUNTSVILLE, AL – Adding to the growing list of accolades, the City of Huntsville was recently ranked as one of the fastest growing, affordable cities in the nation. According to U.S. Census Bureau data tabulated by GOBankingRates from December 07, 2023, populations in some of the largest cities in America, such as New York City […]
The Huntsville Area Association of Realtors (HAAR) has released their monthly report for November of 2023. The amount of inventory available in the Huntsville/Madison County Market has continued to grow, with a total of 1856 units available, up from 1631 in November 2022. However, the average sales price has continued to rise, up to $375k […]
The real estate market has been buffeted by the twin perils of inflation and interest rates, with inventory issues further complicating matters. Last week, experts sounded the alarm on another disrupting factor for the continued future: the rising cost of home insurance in a world of climate change. At last week’s National Housing Conference’s affordable […]
The average 30-year fixed mortgage rate continued to decrease this week, with the current average at time of printing down from 7.61% to 7.41%. As a result, demand for mortgages have begun creeping back upwards, with applications nationwide up 2% over the week. However, this still represents a 20% decrease from the same time last […]
Housing affordability continues to be a major concern across the United States. ATTOM Data Solution’s Q3 2023 US Home Affordability Report shows that median single-family and condo unit prices in Q3 were less affordable than historic averages in 99% of counties nationwide. Moreover, with interest rates hovering around 8%, ‘major home expenses’ now take up […]
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