Huntsville, AL Housing Market Update | October 2022

In the October Housing Market Update, we’ll look at how rising interest rates have affected the Huntsville, AL market as we’re coming out of a record housing market and what to expect for the rest of 2022 as we head into 2023. If you’re looking to buy or sell a home in Huntsville, AL area, this information can help you make the best decision based on your situation.

New Listings 

New listings are relatively flat year over year with a 0.9% increase, there were 1,474 new listings in September 2022 versus 1,461 for September 2021. That makes sense because, in September 2021, we had many sellers that were sitting on the sidelines because they just couldn't find the right home they…

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Sneak Peek Listings for October 28th | Huntsville Area Houses For Sale 

101 Huxton Court - $345,000

101 Huxton Court SW, Huntsville Alabama 35824

3 Bed | 3 Bath | 2,432 sqft

Talk to a MC Agent today for more info or call 256-270-9393

638 County Road 487 - $365,000

638 County Road 487, Moulton, Alabama 35650

4 Bed | 2 Bath | 2,114 sqft

Talk to a MC Agent today for more info or call 256-270-9393

29824 Ivey Lane - $240,000 

29824 Ivey Lane, Madison, Alabama 35756

3 Bed | 2 Bath | 1,260 sqft

Talk to a MC Agent today for more info or call 256-270-9393

12023 Runningmeade - $230,000

12023 Runningmeade Trail SE, Huntsville, Alabama 35803

3 Bed | 2 Bath | 1,567 sqft

Talk to a MC Agent today…

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Alternatives to the 30-Year Fixed Rate Mortgage

 

With 30-year mortgage rates hitting the highest level they've been in the last 20 years, a lot of people are looking for alternatives to that 30-year fixed-rate mortgage. There are three alternatives that we can look at; one option that is typically a bad option, one that is oftentimes a good option, and then there's a great option for us to consider. The three alternatives are:

Alternative Mortgage Options

Adjustable Rate Mortgage

The first option is an adjustable-rate mortgage which is also called an ARM. ARMs are fixed for a period of time and then they adjust after that. ARMs typically start with a lower interest rate than fixed-rate mortgages, so ARMs are a great option if you’re…

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Sneak Peek Listings for October 21st | Homes for Sale in Huntsville, Al Area

4 Maple Tree - $380,000

4 Maple Tree Lane SW, Huntsville, Alabama 35824

3 Bed | 2 Bath | 2,347 sqft

Talk to a MC Agent today for more info or call 256-270-9393

2000 Stapp Drive - $330,000

2000 Stapp Drive NE, Huntsville, Alabama 35824

5 Bed | 3 Bath | 2,227 sqft

Talk to a MC Agent today for more info or call 256-270-9393!

120 Meghan Lane - $360,000

120 Meghan Lane, Madison, Alabama 35758

4 Bed | 3 Bath | 2,264 sqft 

Talk to a MC Agent today for more info or call 256-270-9393

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Does Raising Interest Rates Help Inflation? | Huntsville, Alabama Housing Market News

Interest rates are at the highest levels that they've been in 20 years and inflation is at the highest levels that we've seen since the 1980s. The Fed continues to raise interest rates to combat inflation but does raising interest rates actually impact and lower inflation?

Economics comes down to supply and demand. Most purchasers of big-ticket items such as boats, cars, and homes are also borrowers. Raising interest rates affects the demand for those products because the purchasers are likely to borrow less as a result.. The ‘wealth effect’ is another factor that affects demand. As interest rates rise, that typically has a negative impact on the stock market…

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SNEAK PEEK LISTINGS FOR OCTOBER 14TH | HOMES FOR SALE IN HUNTSVILLE, AL AREA


1909 Indian Hills Road - $403,000

1909 Indian Hills Road, Hartselle, Alabama 35640

4 Bed | 3 Bath | 2,338 sqft

Talk to an MC Agent today for more info or call 256-270-9393!

10296 Saint Alban Boulevard - $270,000

10296 Saint Alban Boulevard SW, Huntsville, 35803

3 Bed | 2 Bath | 1,525 sqft

Talk to an MC Agent today for more info or call 256-270-9393!

102 Elko Junction - $450,000

102 Elko Junction, Madison, Alabama 35758

3 bed | 3 bath | 2,714 sqft

Talk to an MC Agent today for more info or call 256-270-9393!

6836 Wintercrest Way SE - $315,900

6836 Wintercrest Way SE, Owens Cross Roads, Alabama 35763

4 bed…

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2023 Housing Market Predictions 

As we begin Q4 of 2022, rising interest rates, low housing supply, and fear of a real estate crash have many buyers and sellers trying to predict what they should do as we end 2022 and move into 2023. Below, we’ll break down what you can expect for 2023 when buying or selling a home in Huntsville, AL.

2022 & 2023 Housing Price Appreciation

The housing market is beginning to shift which has all the major forecasters now updating their predictions for the remainder of 2022 and heading into 2023. Seven of the major forecasters are predicting an average of 11.3% appreciation for 2022, predictions range from 9.3% all the way up to 16% for the 2022 market, which is still an above-average appreciation for real…

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Sneak Peek Listings for October 7th | Homes For Sale in Huntsville, AL Area

132 Stillwell Drive - $260,000

132 Stillwell Drive, Toney, Alabama 35773

3 bed | 3 bath | 1,762 sqft

Talk to an MC Agent today for more info or call 256-270-9393!

709 Argyle Road - $215,000

709 Argyle Road NW, Huntsville, Alabama 35811

4 bed | 2 bath | 1,500 sqft

Talk to an MC Agent today for more info or call 256-270-9393!

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Huntsville, AL Housing Market Update | September 2022

In the September Housing Market update for Huntsville, AL, we’ll take a look at housing affordability, housing inventory, and what to expect for the rest of 2022. If you’re looking to buy or sell a home in Huntsville, AL, this information can help you make the best decision based on your situation.

Huntsville, AL Housing Affordability

Affordability continues to be down. Single-family homes are becoming less affordable with the housing affordability index down from 129 this time last year to 90 for single-family homes. Anytime affordability gets below 100, it means that the average income in our market cannot afford the average price range home in the Huntsville market. The good news,…

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