Talk is that there is starting to be a shortage of homes for sale in the real estate market, and in case you missed your basic economics course supply and demand play a big part in home prices. To refresh your memory: If the supply of a good (ie homes) is reduced, and the demand remains the same or increases then the price will most likely increase. If there really is a shortage of homes then home prices will probably be affected, so it is very important for the appraiser to be able to determine if there is a shortage or an oversupply of homes. I thought I would share with you how appraisers go about making this determination.
How do appraisers determine if there is an oversupply or shortage of homes?
April 30, 2014 By 2 Comments
Then and Now: Comparing Alabama’s Peak Years To The Current Market-Part 2
April 17, 2012 By Leave a Comment
In my last post I looked at how the current real estate market in the Birmingham, Alabama area is performing compared to peak years in the past by analyzing the median price and number of sales that have occurred. Data has been taken from reports published by the Alabama Center for Real Estate (ACRE). This […]
A Look At The Absorption Rate In Pelham, Alabama, Ballantrae Subdivision-Pt. 2
January 4, 2012 By 6 Comments
We took a look at the entire Pelham, Alabama market with the last blog post I wrote. Today we are going to narrow things down a bit to the subdivision level and even a certain style of home. Of the 222 sales that occurred in Pelham, AL from 12/15/2010 to 12/15/2011, 59 sales occurred in […]
A Look At The Absorption Rate In Pelham, Alabama, Pt. 1
January 2, 2012 By 11 Comments
You may have heard the term “Absorption Rate” before but not really know what it means. The absorption rate is a measure of how long it will take to sell the current inventory of homes in a given market. This market can be on a large scale such as for the entire country, or it […]
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