HUNTSVILLE, AL—
If you're looking to invest in a home, Huntsville is the second best place in the country to do it. That's according to Local Market Monitor, a real estate trend analyst firm.This, at at time when home sales plunge to the lowest number in 15 years.
"The real estate economy here is very healthy. It's going to maintain its own, even as the rest of the country may suffer, we're good," said Huntsville Area Association of Realtors CEO Oscar Gonzales.
Durham, North Carolina scored first, and Indianapolis trailed at third. So why did Huntsville rank so high? Gonzales says there are three main reasons.
"You have almost a perfect storm, if you will, with pricing, with inventory, and with interest rates that make it a great place to invest in," said Gonzales.
He says the pricing is affordable, the economy is stable and interest rates are at an all-time low. He says the real estate market here bucks the trends.
"Even though we had a dip in home sales, our home prices continue to decline, which is unusual," said Gonzales.
He says about 30 percent of all home sales in Huntsville are for new home construction. He says that's a sign of a growing community with a strong employment base, which probably contributed to Huntsville being named second in the report.
