Huntsville, AL: Market insights?

[Luke Ache]

I have been watching the market trends here closely. It seems like the 20% year to year appreciation that we have seen here in this area year after year may not be possible between now and next year- I am thinking maybe 10% between now and September of 2023 is more realistic?

Housing supply is still very low- I have not seen price reductions affect too many properties in the 200-250 K range in Madison which is my preferred area. However, I am seeing price reductions affect properties in the 300K and higher category.

I have found the "sweet spot" to be right around 250K right now in Madison- The only strategy that seems to make sense for me in this market is to buy a property in a desirable area of Madison that needs minor repairs, fix it up and try to force appreciation on top of natural market appreciation which will continue to be driven by high demand and low supply.

If anybody has been successful in this market doing anything else, please share?