REHOBETH, Ala. (WDHN) — With mortgage loan interest rates at the lowest they have been in years, the real estate market in Dothan is booming.
According to Bobby Dean, broker at Wiregrass Real Estate, there are currently nearly 600 houses on the market in the Dothan area.
Year to date, the Wiregrass area has averaged 147 houses sold per month, which equates to less than five months of local housing inventory available, making this a seller’s market in the Wiregrass right now.
Dean said he’s seen interest rates currently as low as 3.1 percent and even below three percent on some VA loans.
“Interest rates right now are down in the low three percent, depending on your credit score, and there are one or two loans out there that are available that’s under three percent so you know, it’s just an excellent time to buy,” he said.
Rehobeth is currently one of the most sought after areas in the local real estate market