Editor’s note: This is a historical report based on WKRG coverage from November 2007. It is not current housing-market analysis or financial advice.
University of South Alabama researchers said in late 2007 that the Mobile-area housing market was holding up comparatively well, even as more homes displayed for-sale signs.
The archived WKRG report said officials described the local economy as strong and put the average home price at about $160,000. They also pointed to the job market as a factor that helped residents afford to buy or sell homes.
The university’s real-estate studies director said national interest-rate changes and problems in subprime lending could affect Mobile, but that the longer-term local trend remained upward despite a slowdown and recent price changes.
Real-estate agents interviewed for the report said a slower market at that time of year was not unusual. The figures and outlook in this article reflect conditions and opinions reported in 2007, not present-day market conditions.