Huntsville AL Foreclosure Trends – May 2011

There were 675 Huntsville AL foreclosure homes for sale in May 2011 and one in every 1,187 housing units received a foreclosure filing. The average sales price of a Huntsville home was $164,009 and the average foreclosure sales price was $130,313, a $164,009  savings, according to RealtyTrac.com.

Huntsville AL Foreclosure Activity and30 Year Interest Rate

Huntsville interest rates averaged 4.64% in April while the number of foreclosed homes decreased from 109 to 80.

Foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.

Huntsville AL Foreclosure Geographical Comparison

Huntsville AL foreclosure activity in May was 0.09% below national statistics, 0.01% above state figures and the same as Madison County statistics.

 Huntsville AL Foreclosure Activity by Month

The number of  Bank-Owned properties decreased from 66 in April to 62 in May. The number of Auctions decreased from 43 to 18 and there is a 6-month rising trend in Huntwville AL foreclosure activity.

Are you or someone you know behind on your mortgage payments and facing a Huntsville AL foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. Give me a call for a private consultation.

Learn more about Huntsville real estate.