The Tennessee Valley’s housing market is booming as major companies bring their businesses to our area.
Realtors say they can already see the impact the new Mazda-Toyota plant is having on housing growth. They say the Huntsville housing market is strong and with Mazda-Toyota and Facebook coming to the area, it will only get stronger.
“Builders are already there now, increasing building some houses, getting everything ready for new subdivisions that are going in,” said Isaac Winkles, Board Treasurer of the Huntsville Area Association of Realtors.
Huntsville Area Association of Realtors says the announcement of the Mazda-Toyota plant and Facebook coming to the area is stimulating the growth and prices of homes in Madison County and surrounding areas.
“I see price is even going a little higher, builders cannot build them fast enough for the market as it currently stands,” Winkles said.
Realtors say Huntsville has always been a good indicator of the growth of North Alabama, but right now its neighbors are seeing the most growth.
“More development from Athens to Madison and the Athens-Limestone area is picking up a good bit. Then with the introduction of new businesses in Jackson County, Jackson County itself is getting a lot more advertisement, in houses that are trying to be built there,” he said.
In 2018 Huntsville Area Association of Realtors sold 14,133 homes, up from nearly 11,829 the year before. Realtors are expecting that trend to continue in the next few years.
“Economists have always said that we will probably have a bit of a down curve in 2020, but they said the down curve it’s probably not going be anything significant and we will resume, right on. That’s a national forecast. Which this area right here, is good forecasting for a strong real estate market for the next five to eight years,” Winkles said.
Realtors say now is also a good time to sell your home.