Monday, April 5, 2021 / by Shane Kilby
Here’s what’s happening in our real estate market as we push into spring.
Today I’m providing some insight as to what’s going on with home prices and inventory here in northern Alabama. Recent real estate trends show that our tight inventory levels will begin to ease up as we continue our transition into spring. At the moment, however, supply is still hovering at an all-time low, and home prices are steadily rising.
Furthermore, historically low interest rates continue to fuel a massive wave of buyer demand. Though these conditions work together to create a fierce seller’s market, there are still plenty of unique opportunities for buyers. We don’t know how long these low interest rates will stick around, so there’s a strong incentive for first-time buyers and repeat purchasers alike to lock in an affordable monthly payment on a home while they still can. Finding a home can be a challenge in this fast-moving market, but the spoils go to those buyers who remain persistent.
If you have any questions about what your home is worth in today’s market or just want to learn more about the trajectory of home prices, feel free to reach out to me by phone or email today. I’d love to hear about your specific real estate needs and come up with an actionable plan that works for you and your family.