Q1 & April 2022 Huntsville Housing Market Report

The data is in for the Q1 and April 2022 Huntsville Housing Market Report. The market continues to be red hot overall but we are starting to see a more balanced market in some of the higher price ranges.

The median pending sales price for Q1 came in at $322,218, which is up 21.6% and the average days on market was only 11 days for Q1. There also continues to be an inventory challenge in this market due to an approximate 5.5 million home deficit nationwide.

To give you some perspective on 11 days, a balanced market is actually considered to be four to six months worth of supply, anything less than four months is considered a seller's market. So at 11 days, we are an extreme and unhealthy…

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First Time Homebuyer Struggles

Being a first time homebuyer just got tougher! Bidding wars, understanding the home inspection reports, and closing costs are only a few of the issues first time homebuyers face. The percentage of first time home buyers successfully winning homes is down over 20% from approximately 50% in the market in 2010 all the way down to 27% in 2022. The question is, "Why is this percentage down so much and what can we do to address it?"

Homeownership is the most proven way to build wealth in this country. Homeowners have an average net worth that is 40x that of renters; $255,000 versus only $5,800. Plus, homeowners tend to be more involved in their community than renters which benefits the whole community more. 

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What's Happening in Huntsville
May 27th - 29th, 2022

Alabama Jubilee

When: All Day | Saturday, May 28th & Sunday, May 29th

Where: Point Mallard Park, Decatur

Cost: Admission & Parking FREE

Alabama Jubilee brings hot air balloons and all sorts of fun to Point Mallard Park in Decatur. Enjoy arts and crafts, vehicle shows, and other entertainment as dozens of hot air balloons provide a picturesque backdrop.

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Rocket City Trash Pandas vs. Tennessee Smokies 

When: 6:35PM | Tuesday, May 24th through Monday, May 29th

Where: Toyota Field at Town Madison

Cost: Tickets Required

The Trash Pandas return home just in time for Memorial Day fun against the Tennessee Smokies! Enjoy baseball action, fun themed nights,…

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Real Estate Crash in 2022?

Are we heading for a real estate crash in 2022? Responses and comments I've received have many asking if home values have finally peaked and if home values will start to crash in 2022. Many people are fearful they will overpay, but I believe that 'fear' stands for 'False Evidence Appearing Real' and 90% of the things that we fear actually never happen. I like to look at the data and make an informed decision. So here's the data on this question.

Data shows we have an extreme supply imbalance, there is currently a 5.5 million home deficit and our supply has shrunk 75% in the last five years. Also, 40% of the U.S. dollars have been printed in the last two years. So there's a lot of cash in this market that's…

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Huntsville is the #1 City in the U.S.

BREAKING NEWS!  Huntsville has been ranked the #1 city in the entire U.S. to live in by U.S. News and World Report. Devin Booker, real estate editor of U.S. News and World Report, said the biggest priorities for consumers during the pandemic have been both housing affordability and quality of life. Huntsville has both with our median sales price 20% below the national average.

Huntsville has been ranked high on affordability, not only because of our affordable home prices. But also high paying jobs with Blue Origin, Mazda, Toyota, Facebook, the FBI, and now Space Command. Joining this long list of high paying engineering and tech jobs in Huntsville during the pandemic, the outdoor quality of life…

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What's Happening in Huntsville
May 20th - 22nd, 2022

Food Truck vs. Trailer Rallies

When: 5PM-9PM | Friday, May 20th

Where: Big Spring International Park, Huntsville

Cost: Tickets Required

Enjoy the spring weather and get a delicious meal from one of your favorite local food trucks as they spread out across Big Spring Park for a lovely evening in downtown Huntsville!

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Water Lantern Festival

When: 5PM-9PM | Saturday, May 21st

Where: Big Spring Park West, Huntsville

Cost: Admission Charged

Water Lantern Festival is a floating lantern event that is all about bringing magical nights to cities across the U.S. Enjoy  food, games, activities, vendors, music and the beauty of thousands of lanterns adorned…

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Why Rents Are Rising

According to a recent article by Redfin, the average rent in the U.S. increased 14.1% year over year. Why are rents rising and when will these rents come back down?

1) We all know that we're experiencing the highest inflation rate we've seen in twenty years of 8.5%. This is a result of the Fed printing more and more dollars. In fact, 40% of the dollars in circulation have been printed in the last two years.

2) Demographics. Our nation is continuing to grow but our housing has not kept pace since the 2008 real estate crash.

3) Millennials and lack of buying opportunities for this generation. Many of them are at prime ages to settle down and purchase their first home. However, the challenge is that they're losing…

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The Future of Huntsville Home Prices

Huntsville, Alabama has been touted as one of the most affordable cities in the U.S. to live in with high average salaries and below average cost of living, including home prices below the national median. But will that continue? Yahoo! Finance recently did an article with predictions on when several major cities throughout the US will become too expensive.

Guess who made that list? You got it, our very own Rocket City. The article references a study done by Go Banking rates, which predicts Huntsville loses its label of affordability in 2030. In that year, it’s predicted that the average home value surpasses seven figures and comes in at nearly $1.2 million. That's an increase of nearly four times our…

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What's Happening in Huntsville
May 13th - 15th, 2022

The First Waltz

When: Friday, May 13th through Sunday, May 15th

Where: The Orion Amphitheater, Huntsville

Cost: Tickets Required

The Orion Amphitheater, Huntsville’s newest live entertainment destination, will celebrate its opening weekend with a landmark event featuring many beloved musicians who have deep ties to the North Alabama region.

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Camp to Amp

When: 12PM - 6PM | Saturday, May 14th

Where: The Camp at MidCity, Huntsville

Cost: Admission Not Charged

MidCity District is celebrating The Orion Amphitheater’s opening weekend with a huge community festival! Amazing food, 3 stages with 20 performers, over 60 local non-profits and vendors, art, kids…

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Could Floor Plans Become Illegal?

Could you get sued for creating a floor plan of your own home? Forbes magazine recently reported that the National Association of Realtors (NAR) is fighting a court ruling that states “homeowners that post floor plans of their own homes on websites could trigger a copyright lawsuit”. Seriously!? With all of the challenges we have currently with the undersupply of housing, the courts have decided to make creating a floor plan of your home a copyright infringement?

That just seems crazy since floor plans are critical pieces of information for both builders and sometimes property owners to sell their home. The appraisal process also uses floor plans to calculate square footage and determine value for the…

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