Praytor Management Group

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From the University of Alabama Center for Real Estate: Mobile’s August number were a mixed bag with Prices continuing to climb, Average Price up to $279,781 up 8% from July. Inventory remained the same with 1,214 houses on the market in August, identical to July. The number of sales continue to decline in August with only 377 homes sold versus 544 at the peak and 403 in July off 6.5%. Fed rate reduction has had little effect on Mortgage Rates today with the markets appearing to having already factored in a half point rate cut, 30 year fixed rate either side of 6%.