New-home sales show hope
We were pleased to be extensively quoted in the paper today, with a bit of a positive spin!
The Birmingham News headed up it’s business section today on the Birmingham, Alabama Real Estate new housing market. The article is here. Article by William Thorton.
While not all signs are positive, a closely followed industry report shows that sales of new homes rose in February and the number of new homes on the market declined.
One analyst said the news may not signal an end of the slowdown in area new-home construction, but it could represent the beginnings of a rebound.
“We may be at this low level for a while, but it’s better than a free fall, which is where we have been,” said Tom Brander, author of the Rudulph-Brander Monthly Birmingham Area Real Estate Report, which tracks new home construction.
The numbers reversed a seven-month trend of steadily declining sales numbers and bad news for homebuilders. Area permit activity has fallen sharply, indicating there are fewer new homes being planned, and some builders have ceased operations altogether in recent months.
