Montgomery Business Journal

Slideshow image

Location, Location, Location

MONTGOMERY AREA REAL ESTATE RECEIVES POSITIVE NEWS

February 2011
By David Zaslawsky

The real estate sector was hit hard by the recession and most of the headlines have been about foreclosures and declining home values.

Those declining prices will become less and less over the next two years, according to PMI Group Inc., a mortgage-insurance and research firm. The firm stated that its risk index shows more than 25 percent of the country’s nearly 400 metro areas have less than a 30 percent chance of declining values in 2013.

The Montgomery area has a 13.1 percent risk of declining home prices in two years, according to PMI Group, which is the third-lowest in the country behind Omaha, Neb. (3.1 percent) and Pittsburgh (12 percent).

Those three were the only ones that had less than a 20 percent risk of a price decline in two years. Fourth on the list was Madison, Wis. (20.7 percent) followed by San Antonio (25.4 percent).

“I’m just excited that someone else says we’re a good place to make an investment,” Montgomery Mayor Todd Strange told the Montgomery Advertiser.

Two of the reasons for Montgomery’s rating were the success of Hyundai Motor Manufacturing Alabama (HMMA) and its suppliers in the region and the stable environment provided by Maxwell Air Force Base and the Gunter Annex, according to an article on MSN’s website. 

The MSN article also featured prominent local economics professor Keivan Deravi, who is interim vice chancellor of academic affairs for Auburn University at Montgomery. He called the Montgomery area’s economy “boringly stable.” He also credits HMMA, which has a plant in Montgomery that produces the Sonata and Elantra, with creating 7,000 direct and indirect jobs in the River Region. He said that Hyundai’s manufacturing plant helped bring a 20 percent increase in wages for skilled factory workers.

MSN wrote that unemployment was a key measure of a region’s real estate market and Montgomery’s jobless rate has been significantly less than the national rate. The state’s unemployment rate was 9.0 percent in November compared with the national average of 9.8 percent. In October, the state’s unemployment rate was 8.9 when the national rate was 9.6 percent.

PMI Group’s risk index considers many factors including labor market statistics, PMI Affordability Index and House Price Index for its risk index.

Related Links


Calendar of Events

Point of Light Award Deadline
Mon, 20 Nov 2017
5:00 PM - 6:00 PM

BizTalk MGM Radio Broadcast
Mon, 20 Nov 2017
6:00 PM - 6:30 PM

4 Ways to Market Your Business Locally
Tue, 21 Nov 2017
12:00 PM - 1:00 PM

Eggs & Issues with Ronald Burgess, Lt General, US Army, Retired
Mon, 27 Nov 2017
7:30 AM - 8:30 AM

BizTalk MGM Radio Broadcast
Mon, 27 Nov 2017
6:00 PM - 6:30 PM

Dale Carnegie Workshop How Smart Leaders Create Engaged Employees
Tue, 28 Nov 2017
8:00 AM - 11:00 AM

: Key Steps to Develop and Evaluate Your Business Idea
Tue, 28 Nov 2017
12:00 PM - 1:00 PM

5 Marketing Moves You Can Make Now To Increase Your 2018 Revenues
Thu, 30 Nov 2017
12:00 PM - 1:00 PM

BizTalk MGM Radio Broadcast
Mon, 04 Dec 2017
6:00 PM - 6:30 PM

Business 101: Start It Up
Tue, 05 Dec 2017
8:30 AM - 9:30 AM

Complete 2017 Year-end with a Tune-Up on your contracting registrations!
Tue, 05 Dec 2017
9:00 AM - 10:00 AM

145th Annual Meeting
Thu, 07 Dec 2017
12:00 PM - 1:30 PM

BizTalk MGM Radio Broadcast
Mon, 11 Dec 2017
6:00 PM - 6:30 PM

The 15 Invaluable Laws of Growth: Live Them and Reach Your Potential
Wed, 13 Dec 2017
11:30 AM - 1:00 PM

Payroll Tax Update
Thu, 14 Dec 2017
8:30 AM - 11:30 AM

Business After Hours
Thu, 14 Dec 2017
5:00 PM - 7:00 PM

BizTalk MGM Radio Broadcast
Mon, 18 Dec 2017
6:00 PM - 6:30 PM


    41 Commerce Street, P.O. Box 79, Montgomery, Alabama 36101   Tel: 334.834.5200   Fax: 334.265.4745   Sitemap