The Federal Reserve has opted to keep the Federal funds rate within the current range of 5.25 to 5.5%. Inflation has stubbornly remained above the 2% annual rate that the Federal Reserve set as its target level. Interest rates were at 3.3% for the month of May, remaining virtually unchanged from April, when it stood […]
The Huntsville Area Association of Realtors (HAAR) has released their monthly report for the month of April. This report shows heightened market activity across the ValleyMLS region, which covers the North Alabama counties of Madison, Morgan, Lawrence, Limestone, DeKalb, Etowah, Cherokee, Jackson, and Marshall. The most dramatic figures from the report centered around new listings, […]
The National Association of Realtors (NAR) has announced that rule changes to Realtor-affiliated Multiple Listing Service (MLS) are to be implemented by August 17. These rule changes are a part of a $418 million settlement, the final hearing of which is slated for November. The NAR also updated its extensive FAQ page, in order to […]
The Huntsville Area Association of Realtors (HAAR) has released its monthly report for March 2024. The total number of homes sold in Huntsville/Madison County declined from the previous year, down to 536 from 651 in March 2023. Madison County saw 1107 pending sales in March, which is up from 1049 the previous year. At the […]
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 […]
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 […]
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, […]
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 […]
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