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 Decatur/Huntsville tops nationwide list of cities where home values are appreciating

Updated: Feb 25, 2009 04:16 AM CST 
 

By Trang Do - DECATUR, AL (WAFF) - A national index shows U.S. home prices taking the biggest hit in 21 years, but there are several places in North Alabama that are bucking the trend.
Decatur topped the list of cities nationwide where home values are appreciating, and Huntsville also posted a strong showing.
Kim Sinclair wants to buy a larger house for her growing family, but first she has to sell the three bedroom, two bath home on 11th Street in Decatur where she and her husband have lived for the past nine years.
"We feel like our house is a good house to buy and a good price, so we're hoping there's somebody out there that will take advantage of it," said Sinclair.
Lucky for her, she lives in a strong housing market.
Despite a brutal economy, a government housing report lists Decatur as the number one city in the country in terms of homes gaining value.
Over the past year, home values in Decatur have risen more than 6.5 percent.
"Versus in other areas where they have depreciated as much as 20 plus percent," said Nick McDaniel, sales manager at Prestige Properties' Decatur office.
Overall Alabama had a strong showing on the home appreciation list.
In addition to Decatur, three other Alabama cities made the top ten list, Tuscaloosa at number four, Montgomery at number eight and Huntsville at number nine.
McDaniels said new tax incentives, great interest rates, and attractive loan packages make this a great time to buy and sell.
Overall, Alabama was ranked 14th in home value appreciation, but the state-wide trend was still negative.
Here in North Alabama, we're bucking the trend with a slight appreciation in home values.