There is good news for the Birmingham, AL real estate market. Home sales showed a positive trend in April 2010, over 2009. The Alabama Center for Real Estate (ACRE) reported that April sales were at 1,061, compared to 887 for last year. The first time home-buyer tax credit most likely had a lot to do with the increase in numbers. In addition, both building permits and housing starts were up 11.4% and 27.4% respectively. The average and medium sales price were down however. As noted in previous posts, this decrease in average and medium sales price could be due to the amount of foreclosure and short sales that have continued to enter the market.
In light of the lower prices, the Birmingham, AL area is experiencing positive trends in the number of both new and existing sales as well as new construction. Hopefully this will continue into the 2nd quarter and the rest of the year. Have you seen positive trends as well? I’d like to hear from you about what you have seen.
That’s great news for your market, Tom!!!!
I think it is too, Ryan. The tax credit may have sparked activity that I believe will carry forward. We are already busy and it’s just the first day of the month.