Modest near-term movement is expected in Huntsville AL real estate sales, with a recovery in sales seen during the second half of the year, according to the latest forecast by the National Association of Realtors.
Lawrence Yun, NAR chief economist, said some pullback after a sharp increase in the previous month was expected. "The overall decline in contract signings suggests we are not out of the woods by any means. The housing stimulus bill that is still being considered in the Senate is critical to assure a healthy recovery in the housing market, jobs and the economy," he said.
Furthermore, Yun said location has never mattered more than in the current market. "Some markets have seen a doubling in home sales from a year ago, while others are seeing contract signings cut in half. Price conditions vary tremendously, even within a locality, depending upon a neighborhood's exposure to subprime loans."
Let's take a look at the sales statistics for June 2008 to see how the Huntsville AL real estate market looks:
Huntsville/Madison County Market Statistics
Date |
Sold Listings |
Average List Price |
Average Sale Price |
Percent SP/LP |
Average DOM |
Average Price SqFt |
June 2008 | 514 | $210,207 | $205,835 | 97.92% | 93 | $92 |
June 2007 | 657 | $210,472 | $207,319 | 98.50% | 68 | $91 |