Recent announcements from the Fed regarding a stall on short-term interest rates came as no surprise to most. Five and one quarter percent is where the interest rate has remained since last June. With an eye toward inflation, Fed Chairman Ben Bernanke recites a familiar statement blaming slowed growth partially on the “substantial cooling of the housing market.”
While housing may be cool in other areas, nothing could be farther from the truth in the Huntsville, Alabama real estate market. In fact, as the rest of the country has suffered a decline of 19% in housing starts, Huntsville’s real estate sales have remained stable.
“The number of properties sold in November 2006 was down by only 54 homes compared to November 2005. The market remains strong and year-end figures should be excellent,” according to real estate sales professional, Mike Manosky of ReMax Huntsville (online at http://www.MoveToHuntsville.com).
Growth In Many Areas
One reason for the growth in Huntsville’s real estate market is the tremendous growth this city has experienced in other areas over the last 10 years. BizJournals.com recently echoed what had been stated repeatedly by others when it named Huntsville, Alabama as Number One on its Top 10 Hotspots list. The award was based on Huntsville’s blend of comfortable lifestyle, warm weather, population and other factors.
Expansion in the area’s high-tech business base continues, which contributes to stronger economic growth in both the business and private sectors. This accounts, in part, for stability and increased development in the Huntsville real estate market as well. Other factors that drive growth include:
· A wide array of professional and management positions available
· Favorable decisions with regard to base realignment and closings (BRAC)
· Expectancy of large population growth over the next three- to four-years due to BRAC
· High concentration of college-educated adults
· A rise in per capita income levels above 20% in the past six-years
No Bursting of Bubbles
While housing bubbles in other cities such as Phoenix, Arizona have burst, investors in Huntsville currently stand little chance of facing diverse conditions. With a steady stream of homes moving in and out of the real estate listings, there is a better chance to sell more quickly in this area than in some others that have stalled.
Huntsville, Alabama is a thriving city with projected land development of 38% by 2010. Considering that the population of this area has doubled over the past 20-years, this is obviously not a fluke. Whether you are an investor or homeowner, Huntsville can deliver promising job opportunities, first-rate education, affordable costs of living and a stable real estate marketplace.
For additional Hunteville real estate information or media interviews, please contact Mike Manosky at (256) 508-0211 or via email at Mike@MoveToHuntsville.com.
