HUNTSVILLE – Despite uncertainty facing many federal workers in North Alabama, the Huntsville housing market remains strong, according to the CEO of the Alabama Association of Realtors.
“We’re confident going into the spring buying season,” Jeremy Walker said. “January was a great month, best month in probably 12 months for Alabama. And so we’re very optimistic moving into the spring.”
Walker said several factors affect the housing market.
“I think the economy in general is a huge factor for us,” he said. “Interest rates continue to be a big driver of activity; 70% of the market right now has an interest rate below 5%. And so it’s kind of difficult when rates are higher to trade that 5% mortgage in or lower for a 7% rate.
“So the more we get into the sixes, the better it is for activity in the market.”
ValleyMLS covers Cherokee, DeKalb, Etowah, Jackson, Lawrence, Limestone, Madison, Marshall, and Morgan counties.
The organization’s monthly report shows 75 more homes were sold last January compared to January 2024. However, the average days on the market increased from 41 days to 65 days.
Walker said the current market is good for buyers and sellers.
“I think it’s a little bit of both,” he said. “I think if you’re in a home right now, you’re in a great position because you’ve got a ton of equity. Home prices have continued to increase. You’ve got a great value there with your home. And if you’re a buyer, I think you’re seeing more inventory on the market.
“So you’re going to have more opportunities to look for homes and work with one of our great members in that process.”
Walker, whose association oversees the state, believes Huntsville will continue to grow.
“North Alabama continues to be fantastic,” he said. “You guys are growing. You’re an economic driver for the state and, and really the region.
“And we don’t see that slowing down anytime soon.”
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