“The absorption rate has trended downward since 2010 and is now at about the ideal 6-month level. The level of inventory has fluctuated slightly but remains about the 2010 level. The underlying economic conditions for Madison County are strong as shown by growth in population, workforce, income, and Gross Domestic Product. With a relatively strong economy, it is reasonable to expect that demand for real estate properties should continue to trend upward”, according to the report. Overall, the 1st Quarter of 2018 was a strong period for residential real estate in Madison County.
The Huntsville Area Real Estate Economics report gives you, the professional, and consumers a clearer picture of our inventory shortage and recent increase in average home prices. This report, and the ones that will follow, will also feature a trend-line analysis to show the market trend, based on current conditions. The research was conducted by a team of economists at the University of Alabama-Huntsville in coordination with a HAAR task force appointed by the Board of Directors.
The report contains information that focuses on the following areas:
- Real Estate Analysis Feature: Absorption Rate
- Sales & Price Levels
- Market Momentum
- Inventory Status
- Local Area Outlook
These reports will be produced by UAH quarterly and will each focus on a varied set of market data to quantify questions posed by REALTORS about the Huntsville area real estate market.
Note: Please direct inquiries regarding report analysis to CEO Josh McFall (firstname.lastname@example.org).