Home sales growing in TN Valley, nation - WAFF-TV: News, Weather and Sports for Huntsville, AL

Home sales growing in TN Valley, nation

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Realtors say our area is growing in terms of home sales due in part to increasing job availability. Realtors say our area is growing in terms of home sales due in part to increasing job availability.

Home sales in the US are on the upswing, butdoes the trend hold true in the Tennessee Valley markets?

Kipp Cooper, CEO of the Huntsville AreaAssociation of Realtors, said 2013 was a big year for the area, and 2014 isexpected to be just as good.

In 2013, Realtors sold more than 5,000properties, a 9% increase compared to 2012 and a 21% increase over sales in2011. The outlook for 2014 appears promising as well; sales in Januaryincreased 16% over last year's figures.

Cooper said the reason is a combination offactors. Not only are there very few foreclosures and short sales here, butalso there is a strong inventory.

"We have very low prices, great quality oflife, and we continue to see companies like Remington, [that] announced lastweek that they are going to be relocating some jobs here. All of those aregreat factors in looking at a healthy recovery for our real estate history," hesaid.

Cooper said that while home sales haveincreased, the median prices of the value of homes has not. He said that thosevalues will increase as the demand for homes goes up. The demand, in turn, willgo up as more jobs are created.

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