Birmingham #3 Fastest Growing Real Estate Markets
Wednesday, May 28th, 2008Birmingham, Alabama was recently listed #3 in CNN/MONEY magazines list of the 10 Fastest Growing Real Estate Markets in the US! Although this may be a surprise to some, as a real estate agent here in Birmingham, this isn’t that great of a surprise to me!
CNN/Money Provided the data below Regarding Birmingham:
12-month forecast: 2.7%
Median home price: $156,000
One year price change: 2.9%
Five year price change: 29.4%
Change in foreclosure rate: 20%
The one number that I do believe “sticks” out is the change in foreclosure rate. Up 20% means that there are going to be some good buys available in some of the hottest areas of town. Especially areas of town that grew in price dramatically faster than their surrounding neighborhoods and communities. You will even find a few new construction homes under foreclosure in popular neighborhoods being sold by banks to recoup their investments.
Interested in Buying Birmingham Real Estate now?
You should be!
