Market Trends Mobile Alabama

The market in Mobile is still hot but is beginning to stabilize.

The Gulf Coast of Alabama is still in a post Katrina environment. Immediately after the storm the City Of Mobile dodged a bullet compared the region west. After the event many displaced people made tier way to the city. Hotels were fill to capacity and many opened their homes to others. After things settled the city became saturated with potential home buyers. It was if the mortgage industry and home sellers saw immediate possibilities. Mortgage companies popped up every where and home prices began to rise. The increases were still moderate compared t the rest of the country. However increases continued none the less.

Now as we pass the 1st quarter of 2007 the market has began to stabilize. Prices have began to fall slightly due supply and demand. Most of the buyers from other areas have either relocated back and or have found homes. Interest rates remain steady with a slight rise in the national average to 6.17 percent 30 year fixed rate. As prices began to drop and the market becomes stable seeking its own level. The opportunity exist for a strong long term housing market in the city and county. This is good news for buyers. Sellers are finding out their prices need to come down because of increased competition and deal seekers.

Category - Residential
Statistics for Entire MLS from 01/01/2007 to 04/04/2007