MADISON COUNTY, Ala. (WHNT) — Nearly three thousand homes are up for sale across 10 North Alabama counties – that’s according to a July 2023 report from Valley MLS.
Madison County resident Brennan Luckhart says his journey to homeownership started in June.
“Finding the house wasn’t really the issue. It just happened to go up for sale at the same time I decided I was ready to buy,” said Luckhart. “Make sure your credit is good. Make sure as many times as you can calculate your down payment and closing cost you do it…just go ahead and add a few more thousand on to that because it’s a lot more than what you’re told or what you expect.”
Attainable housing is expanding with new homes being built across Madison County. According to the Huntsville Area Association of Realtors (HAAR), some of that attainable housing is listed in the $250-300K price range.
What does this mean for buyers?
2023 HAAR President Chris Hulser-Hoover says, “There’s more choice which is great! They’re not just having to go, ‘Okay, here’s a house. I want to buy it because it’s the only thing available.’ It’s also keeping prices a little more stable. We’re not seeing $30,000-$40,000.”
What does this mean for sellers?
“They’re not really seeing much of an impact, except for the fact that their house may stay on the market a little bit longer…but they’re still getting a top-dollar and easier terms than we were seeing say four-five years ago when buyers were asking for the sun and the moon,” Hulser-Hoover said.
The housing recession is over — that’s according to the National Association of Realtors. Hulser-Hoover tells News 19 that when it comes to the inflation rate, Huntsville’s housing market stands out among the rest.
“Our inflation rate is typically way less than what we see across the nation. When we see the national media putting out that the market is bad, and inflation is high…when you actually look at Huntsville as a whole, we’re doing way better than the rest of the nation,” replied Hulser-Hoover.
For a third year in a row, Huntsville has been named among the Top 3 Best Places to Live in the U.S. — according to U.S. News & World Report.