Mobile Home Sales At Three Year High

Home Sales At Three Year High

Posted: Updated:

Around midtown Mobile you can still find a lot of for sale signs.  Some homes are just on the market.

Other signs are advertising a reduced price.  For many of the realtors behind these signs, things are looking up.

 

"We actually had 5000 plus homes for sale in Mobile [during the height of the recession] and right now we have 3248 homes for sale so the falling inventory shows a more vigorous market," says the co-owner of LLB&B Real Estate Melissa Morrissette.  The Mobile market currently has about 8.23 months worth of houses for sale.  At the height of the recession it was three times that amount.  A vigorous market would have about six months worth of houses for sale.  Things are looking better but not as good as the heyday of post Katrina sales when displaced people were looking for somewhere to live.

 

"I don't know if we'll ever see that again but with all the economic development that's going on in mobile that we are definitely moving in the right direction and I hope we're heading to a more vigorous market than we are in right now," says Morrissette.  Housing sales mean home values are inching upward.  Interest rates are still very low at two and a half to three and a half percent so in most cases it's still a buyer's market.  Rental homes are getting harder to find with the housing stock selling briskly.

 

"We have six calls per home a day so therefore so therefore we are looking for many more rental homes to lease out," says Sonja Fowler with Sonja Fowler and Associates. 

  • Most Popular StoriesMost Popular StoriesMore>>

  • Lawsuit: Circumcision Goes Wrong at Hospital

    Lawsuit: Circumcision Goes Wrong at Hospital

    Thursday, July 24 2014 2:51 PM EDT2014-07-24 18:51:59 GMT
    An Alabama man who went to the hospital for a routine circumcision says doctors mistakenly amputated his penis.
    An Alabama man who went to the hospital for a routine circumcision says doctors mistakenly amputated his penis.
  • Girls Accused Of Torturing Tortoise

    Girls Accused Of Torturing Tortoise

    Friday, July 25 2014 4:15 PM EDT2014-07-25 20:15:07 GMT
    A disturbing case of animal cruelty involving a tortured tortoise. Authorities arrested two teenage girls for lighting a gopher tortoise on fire and stomping it to death.
    A disturbing case of animal cruelty involving a tortured tortoise. Authorities arrested two teenage girls for lighting a gopher tortoise on fire and stomping it to death.
  • Desperate For Painkillers, Man Self-Inflicted Injuries

    Desperate For Painkillers, Man Self-Inflicted Injuries

    Friday, July 25 2014 12:11 PM EDT2014-07-25 16:11:49 GMT
    The man has allegedly been hitchhiking across the country for the past four years under different names and admitting himself to as many as five hospitals per week to receive prescription medication.
    The man has allegedly been hitchhiking across the country for the past four years under different names and admitting himself to as many as five hospitals per week to receive prescription medication.
Powered by WorldNow

555 Broadcast Dr,
Mobile AL 36606

Telephone: 251.479.5555
Fax: 251.473.8130
Email: news5@wkrg.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.