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    Jeff T Real Estate Trends 2021

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    Sean Magers
    This document analyzes trends in residential housing in Madison County, Alabama from 2010 to 2021. It shows that from 2019 to 2021, average and median home prices increased over 30% while home sales decreased over 50% and days on the market increased nearly 70%. Housing affordability decreased as home prices rose faster than incomes and availability. The number of listed homes below the maximum affordable price dropped, reducing attainability. Multifamily housing development increased but did not keep pace with household growth, exacerbating availability issues.

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    Jeff T Real Estate Trends 2021

    Uploaded by

    Sean Magers
    1K views18 pages
    This document analyzes trends in residential housing in Madison County, Alabama from 2010 to 2021. It shows that from 2019 to 2021, average and median home prices increased over 30% while home sales decreased over 50% and days on the market increased nearly 70%. Housing affordability decreased as home prices rose faster than incomes and availability. The number of listed homes below the maximum affordable price dropped, reducing attainability. Multifamily housing development increased but did not keep pace with household growth, exacerbating availability issues.

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    Jeff T Real Estate Trends 2021

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    This document analyzes trends in residential housing in Madison County, Alabama from 2010 to 2021. It shows that from 2019 to 2021, average and median home prices increased over 30% while home sales decreased over 50% and days on the market increased nearly 70%. Housing affordability decreased as home prices rose faster than incomes and availability. The number of listed homes below the maximum affordable price dropped, reducing attainability. Multifamily housing development increased but did not keep pace with household growth, exacerbating availability issues.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    1K views18 pages

    Jeff T Real Estate Trends 2021

    Uploaded by

    Sean Magers
    This document analyzes trends in residential housing in Madison County, Alabama from 2010 to 2021. It shows that from 2019 to 2021, average and median home prices increased over 30% while home sales decreased over 50% and days on the market increased nearly 70%. Housing affordability decreased as home prices rose faster than incomes and availability. The number of listed homes below the maximum affordable price dropped, reducing attainability. Multifamily housing development increased but did not keep pace with household growth, exacerbating availability issues.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 18

    Trends in Residential Housing

    Madison County, Alabama


    2010-2021

    Prepared for Huntsville Area Association of Realtors


    September 2021

    Analysis by:
    Jeff Thompson
    Center for Management & Economic Research
    Analysis Focus
    • The purpose is to illustrate trends in residential real estate

    • Show the effects on Housing Affordability

    • Show the effects on Housing Attainability

    • Illustrate the trending impacts on the ability to meet demand


    for housing
    Key Metrics
    Year over Year
    Changes Year-to-Year
    2019-2020 2020-2021 2019-2021

    33.2% 31.4%
    30%
    25.2%
    17.4%
    10% 11.9%
    6.5% 6.6% 5.2%
    5.3% 2.8%
    1.2%
    2.3%
    -10%

    -20.8%
    -30% -27.8%
    -31.3%

    -45.6%
    -50%
    -58.1%

    -70% -69.8%
    AVERAGE PRICE MEDIAN PRICE HOME SALES LISTED HOMES DAYS ON MARKET CPI- SHELTER
    Housing Availability
    Income - Prices - Availability
    Home Affordability Median Household Income
    Average Home Price Available Homes

    2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021*
    Population-Workforce-Availability
    Population Workforce Available Homes

    2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021*
    Population-Workforce-Sales
    Workforce Population Sales

    2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021*
    Housing Affordability
    Housing Affordability
    Average Price Affordability Index CPI-Shelter

    2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021*
    Sales & Inventory
    Available Homes Sales Days on Market

    2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021*
    Housing Attainability
    Attainability
    No. Homes Listed below Max Max Home Value Min Home Value

    2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021*
    Multifamily housing
    component
    Estimated Housing Availability
    SF Homes Available Available Multifamily (Est)
    New Multifamily Households Growth

    2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021*
    Thank You
    Jeff Thompson
    Center for Management & Economic Research
    jeff.thompson@uah.edu

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