Sneak Peek Listings for July 7th

110 Autumn Crest - $400,000

110 Autumn Crest Drive, Madison, Alabama 35757

4 Bed | 3 Bath | 2,525 sqft

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

168 Walls Drive - $180,000

168 Walls Drive, Hazel Green, Alabama 35750

4 Bed | 3 Bath | 1,830 sqft

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

 

259 Falcon Ridge - $220,000

259 Falcon Ridge Drive, Huntsville, Alabama 35811

3 Bed | 2 Bath | 1,131 sqft

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

 

 

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Affordable Housing Crisis Continues to Widen

Median Family Income & Housing Supply

You know we're facing a housing crisis in this country, but how is that affecting the average family in the US? The median family income in the US is sitting at $75,000. By definition, that means 51% of the family households in the US are making $75,000 or below. Taking into account today's interest rates, a family with the median income can afford to purchase a home priced at $256,000. For the housing market to be balanced and to be affordable, we would need 51% of available housing in the US to be at or below that $256,000 price point. Unfortunately, we're nowhere close to that here in the US.

We're at less than half of that, we're actually sitting at…

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Interest Rates Forecast for 2023-2024

What should you expect with housing interest rates for the rest of 2023 and into 2024? We examine the potential trajectory of interest rates by taking into account the Fed's forecast and the current climate of uncertainty. While the Fed is expected to initiate rate reductions within the next 12 to 24 months, waiting to buy a home in 2024 or 2025 might not be the wisest decision. If you're thinking about buying or selling a home in Huntsville, AL, being mindful of how interest rates impact the housing market can help you make the best decision that suits your needs and circumstances.

Despite a Pause on Rate Hikes, Expect More

Is Jerome Powell fed up yet? After an unprecedented ten consecutive rate…

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Huntsville Housing Market Report | May 2023


Discover the latest housing market trends in Huntsville, AL and the surrounding areas. We’ll explore key factors such as average sales prices, housing inventory, average days on market, affordability, and the percentage of list price received. We’ll give insights into how these elements are shaping the current market conditions and understand the potential implications for both buyers and sellers. Stay informed about the evolving dynamics of the Huntsville housing market and be prepared to make informed decisions regarding your housing and real estate needs.

Huntsville Average Sales Price & Homes Sold

Year over year the average price home in Huntsville has risen $5,000 from $382,000 to $387,000.…

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Sneak Peek Listings for June 23rd

7606 Ashor - $425,000

7606 Ashor Drive NW, Huntsville, Alabama

4 Bed | 3 Bath | 2,442 sqft

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

103 Andover - $398,000

103 Andover Lane, Huntsville, Alabama 35811

4 Bed | 3 Bath | 2,500 sqft

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

917 Speake - $275,000

917 Speake Road NW, Huntsville, Alabama 35816

3 Bed | 3 Bath | 1,878 sqft

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

116 Woodfield - $209,900

116 Woodfield Drive, Madison, Alabama 35757

3 Bed | 2 Bath | 1,701 sqft

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

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The Housing Market Crash Has Already Happened

The housing market crash has been a subject of speculation, with concerns about a potential bubble and its subsequent burst, both across the US and Huntsville, Alabama. However, the crash has already occurred, although not in the way most people expect. We look into the causes of the crash, propose solutions, and explore the potential ramifications if we fail to act promptly.

Housing Affordability Continues to Decrease

Affordability has taken a major hit. With 2008 in the back of everybody's minds, it's only natural to ask, "Are we in a real estate bubble, and is it going to pop?" We've had a massive hit on affordability due to price increases, which is a reflection of massive inflation, monetary…

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Average Length of Homeownership



Curious about how long homeowners are staying in their homes? Recent stats shed light on the average length of homeownership and its changing trends. Examining a 20-year period from 1985 to 2005, there was minimal variation in home stay duration. On average, homeowners remained in the same house for five years in 1985, gradually increasing to six years by 2005. However, in a surprising twist, the average length of a homeowners' stay has more than doubled in less than two decades, with homeowners now residing in their homes for over 13 years. Let's take a look at what the future may be for a homeowners' length of stay and discuss the factors driving this trend.

Future of Homeowners Staying in the Same House

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Sneak Peek Listings for June 16th

134 Saddle - $334,500

134 Saddle Street, New Market, Alabama 35761
3 Bed | 3 Bath | 2,109 sqft
Talk to an MC Agent today for more info or call 256-270-9393

101 Preserve - $599,000

101 Preserve Court, Madison, Alabama 35758

4 Bed | 4 Bath | 3,136 sqft

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

102 Real Road - $470,000

102 Real Road, Harvest, Alabama 35749

3 Bed | 3 Bath | 2,867

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

2231 Norwood Drive - $224,900

2231 Norwood Drive NW, Huntsville, Alabama

4 Bed | 1 Bath | 1,290 sqft

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

 

 

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2023 Housing Predictions Revisited

You've seen my 2023 Huntsville, Alabama real estate predictions, now that we’re halfway through the year let's see how those predictions are faring.

1. Have Interest Rates Peaked?

I was really on the fence if interest rates had peaked and what interest rates might do in this market in 2023. I predicted that interest rates had peaked and that they would start to come down in 2023. I'm going to stick with that prediction.

Interest rates seem to have peaked in the low 7% range and they have come down slightly from that. With the Fed signaling that they may pause rates and a lot of fear and uncertainty being priced into the mortgage rates, it looks like that prediction could come true with interest rates…

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