Homebuilder Sentiment Drops Over 50% in 2022

Home builder sentiment has dropped over 50% this year from a high of over 83 down to 38. Rising interest rates are the reason cited for this negative outlook score of 38. The NAHB Housing Market Index measures sentiment among builders of US single-family homes and any score below 50 is considered a negative outlook by the builders.

This is the first year since 2011 that we've had a decline in single-family home starts. This is a big deal because if you look at the 2008 financial crash, builders built fewer homes during that time frame. During the ensuing demographic boom and with fewer homes being built, we saw a deficit of about 5.5 million homes during that period. We’re just now back to a normal…

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Housing Prices Expected to Drop in 2023

According to Zillow economist Jeff Tucker, prices are predicted to drop across the US over the next 12 months. The economists surveyed are predicting that prices are going to drop anywhere between 5% to 10% nationally. Jeff Tucker is predicting that this time around is going to be totally different than 2008 because there's not going to be the same level of motivated sellers that we had during that financial crash. These same economists that are predicting a 5% to 10% drop in 2023 are predicting national price appreciation to begin again in 2024.

The saying in real estate is, “it’s all about location, location, location” and the same is true for these price drops that they're predicting. They're predicting…

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Sneak Peek Listings for November 4th

116 Bramble Creek Drive - $367,000

116 Bramble Creek Drive, Meridianville, Alabama 35759

4 Bed | 4 Bath | 2,650 sqft

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

390 River Bend Drive - $240,000

290 River Bend Drive SW, Huntsville, Alabama 35824

3 Bed | 2 Bath | 1,261 sqft

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

130 Princewater Drive - $335,000

130 Princewater Drive, Madison, Alabama 35756

3 Bed | 2 Bath | 1,917 sqft

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

 

423 Curtis Drive - $299,000

423 Curtis Drive SE, Huntsville, Alabama 35803

4 Bed | 2 Bath | 1,989 sqft

Talk to an MC Agent today for more…

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Mortgage Demand Hits 25-Year Low

The Federal Reserve has raised interest rates six times in 2022 which has pushed 30-year mortgage rates to the highest levels they’ve been in over 20 years. This has led to a massive decline in mortgage demand hitting a 25-year low, mortgage demand is down 4% week over week and 38% year over year.

Why Mortgage Demand Is Down 

Interest rates are pushing some buyers out of the market due to affordability, which is also pushing out a lot of potential refinances due to the higher interest rates we're seeing right now.

Rates are now back in line with what we have seen historically dating back to the pre-2000 years. This chart shows we're back to rates that we have really been seeing for most of the country’s…

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The Kids to Love Foundation is getting a generous gift from Matt Curtis Real Estate that will directly impact Kids to Love’s ability to help children placed in foster care.

Matt Curtis Real Estate is investing $100,000 in Kids to Love’s Child Placing Agency, specifically supporting case managers who work to match foster families with children in care.

A $50,000 check presentation took place Tuesday, November 1st at the Kids to Love Center in Madison. Matt Curtis has committed the other $50,000 over the next year as part of Matt Curtis Real Estate’s Love Thy Neighbor program.

“We’re thankful and humbled that God has opened up the door to serve alongside the mission of Lee Marshall and Kids to Love,” Matt Curtis said. “Our vision at Matt…

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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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