Birmingham Alabama Home Sales on the Rise
The Alabama Center for Real Estate has released the numbers for May 2008. The ACRE calculates the number of home sales reported then compares those numbers to those of the previous month and year.
Let’s start with the good news:
For May 2008 Birmingham Homes sold rose 10.66% over homes sold in April 2008.
Overall though, when compared to May 2007, home sales dropped an astounding 30.45%! So for those thinking that the housing slump had bypassed Birmingham, the numbers indicate something different. The year to date numbers are down from 2007 by 26.25%. Now, until we see the numbers for June, we won’t be able to make any predictions on whether or not the housing market has turned up or not. Home sales in Birmingham do tend to pick up in the early part of the summer, so I do expect better numbers in June and July, but I am not sure how they will compare to 2007. My first inclination is that they will be down in the 20% range.
What does this mean to a person shopping for Birmingham Alabama real estate?
If you are selling your home, make sure it is ready to show. If you are buying a home, make a list of things that you want in a home. With the amount of homes for sale in the Birmingham real estate market, it will help you sort through all the homes for sale to locate exactly what you are looking to purchase.
