Huntsville Realtor Tim Knox said real estate agents are feeling a little bit nervous these days in the Huntsville area.
“We kind of got a little spoiled last year,” said Knox, who is with Leading Edge Real Estate Group. “When the feeding frenzy was going on here, even the worst house would sell within hours. We would get multiple offers, cash offers way over asking price.That isn’t the case anymore.
“It looks like the housing market is softening given that the average sales price is flat or declining in most markets, number of homes sold is flat or down in most markets, days on market are up in most markets,” said Bennie Waller, William Carey Hulsey Faculty Fellow for the University of Alabama’s Department of Economics. “However, it does appear that most markets are enjoying an increase in inventory.