Are Huntsville, Alabama Homes Overvalued?
There has been a lot of hype and clickbait articles predicting what will happen in the housing market not only nationally, but locally as well. The latest clickbait article that came across my desk was titled “Housing Correction Coming to Alabama: See the State's Most Overvalued Real Estate Market”.
They made two points in the article:
1) Home prices have outpaced income growth and
2) Huntsville is at the top of the state's list at 37.12% overvalued compared to the area's income levels.
Are Huntsville homes overvalued and is a housing correction coming to the market? Let’s look at the facts:
Rising Cost of Living
Overvalued is probably not the right term, higher cost of living is…
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