COFFEE CO., Ala. (WDHN)—Statistics indicate the Federal Reserves’ recent interest rate hikes are slowing down the
the housing market in order to “tame inflation”.

But despite the higher rates when buying a home, Coffee County officials are seeing
record property tax revenue.

This week Coffee County Revenue Commissioner, Ronnie Burns, told the
county commission that in the fiscal year 2021. His office took in 19 million dollars,
a record amount despite the pandemic.

Burns says it’s not only Enterprise but across Coffee County real estate is selling like “hotcakes”.
That’s despite recent increases in mortgage rates. Burns says “farmland has really increased in value. You say your neighbor down the road brags he got 60-thousand dollars more than he thought he would get. Guess what that has a bearing on your land and your value on your place.”

For Enterprise real estate agent, Travis Parker, says many folks from Florida are coming
into his office looking for homes and land. Thus far, higher mortgage rates haven’t affected him
and many fellow realtors in the wiregrass.

Parker says “overall we have only gone up 50 houses from last year but they got a lot under construction. So if there completed and when there
completed those numbers will go up even more.”