The Alabama Association of Realtors has seen a positive change in recent months.MONTGOMERY, Ala. -
“Alabama is closing out on five consecutive months of improving home sales, month after month, which is very encouraging and not like other parts of the country,” said CEO Jeremy Walker.Building permits have increased by 8% annually in recent years. Most of those permits are businesses opening shop, which attracts more people to the state.
As for those looking to buy a home, Walker said, “I think right now for first-time buyers and young buyers, it’s one of the most challenging times for young buyers in recent memory. Affordability is a challenge. Finding homes that are affordable and interest rates.” If you have to rent, Walker encourages you keep up with interest rates and check with a realtor to see if you qualify for ay programs to help with the cost when you are ready to buy.
“Everything that we’re seeing in the marketplace indicates relief may be on the horizon. We’re looking at a potential rate cut later this year,” he said.and get the latest local news and breaking alerts in your email!