Pandemic. Did someone say pandemic? The term obviously failed to resonate with the Madison County real estate industry during 2020. While there was a slight pause in the second quarter, the robust activity for the remainder of the year provided an astounding overall growth increase of 25% for the past year.
Total of all sales reached $2.5 billion during 2020, up from $2 billion in 2019, according to the annual report from the Huntsville Area Association of Realtors.
Zelda Friedman, president of the Huntsville Area Association of Realtors, said it’s the economic tide that is the driving force behind the numbers.
“There is a tremendous amount of industry coming to the area,” she said. “It’s simply job growth and we expect this momentum to continue for the next few years.” She cited FBI transfers into Redstone Arsenal but the area’s economic growth includes a lot of local companies who are adding jobs. The Mazda-Toyota plant is also contributing to the rapid growth.
Friedman said 2020 was an incredible year in spite of the world COVID-19 pandemic.
“Everyone took precautions to ensure we protected home buyers, whether it was showing a house or doing virtual presentations. We just had to show some creativity during the pandemic,” she stated.
Friedman also praised Alabama Gov. Kay Ivey, saying, “She included real estate as an essential service meaning that real estate brokers could continue to do business. That helped…