So, How IS The Birmingham, Alabama Real Estate Market??

Funny you ask.  I get asked this question a lot and I have my own thoughts, but it’s nice to know that other professionals agree.  In addition to experiencing the local Birmingham market from a first hand experience, I read a lot of market data to assist me in my real estate appraisal business.

Local real estate analyst Tom Brander, who helps contribute data to the Alabama Center For Real Estate (ACRE), recently compiled data on what other experts think.  Their findings?- you can read the entire article at the above link on Tom’s blog, but I will summarize what the community of real estate professionals feel the summer months will bring.  They are confident that the market will improve and sales will be better than last year.  The actual performance in the first quarter of this year, no doubt has contributed to the rosy outlook.  On a negative note however prices are not expected to improve anytime soon, and the availability of credit does not look good.

I always say you have to take the good news with the bad and find the positive in anything we go through.  It took a long time for us to get in the mess we are in, and it will probably take a while to get out of it, but I believe there are positive signs that show we are moving in the right direction.  This is not to say that we won’t get sucker punched by the release of a new wave of foreclosures that was recently reported, but we’ll just have to cross that bridge when we get to it, right?  What do you think of the local real estate market?  Leave me a message below, I would like to hear your thoughts.

If you have any real estate appraisal related questions you can call me at 205.243.9304, email me, or connect with me on Facebook., Twitter, or Youtube.