Huntsville Real Estate Sales Statistics - March 2009
The Federal Housing Administration is a primary source of mortgage financing for millions of America's families and plays a key role in helping bring stability to the housing market. This is the message that the National Association of Realtors®. delivered to the Senate Appropriations Subcommittee today. "Without FHA financing, families would be unable to purchase homes and communities would suffer from continued foreclosures and blight," said Lennox Scott, a member of NAR's Real Estate Advisory Board and CEO of John L. Scott Real Estate in Bellevue, Washington. In his testimony, Scott shared NAR's belief in the importance of FHA and concern for the safety and soundness of its programs due to its dramatic growth over a short period of time.
"We believe that FHA has done a good job stepping up to today's market challenges. However, along with the dramatic growth in market share comes greater responsibility and the need for increased infrastructure and staff," Scott said. Over the past 18 months, FHA has handled an increase in volume four times greater than 2007 levels, increasing its market share to over 30 percent.
Huntsville/Madison County Real Estate Sales Statistics
Huntsville and Madison County saw a lower number of real estate sales than a year ago for March. Although the numbers decreased from 2008, we are seeing more activity each week. The warmer temps, green grass, and low interest rates are bringing more families back into the real estate market. The interest rates are in the 4.5-4.75% range for a 30 year mortgage. To see what you can buy at today's rates, visit the mortgage calculator here... https://www.movetohuntsville.com/calculators