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A separate study, the Rudulph-Brander Monthly Birmingham Area Real Estate Report, had similar findings. The report highlighted weakness in new home sales, which declined to 386 last month from 588 in December 2006, a drop of 34 percent. December’s total new home sales, though, topped November’s.
Overall, the value of new homes sold in the Birmingham area last year totaled $1.3 billion, the third-best annual figure, behind 2006’s $1.5 billion, and 2005’s $1.36 billion, said Tom Brander, author of the report.
A positive trend cited by Brander is a continued decline in the number of area homes listed for sale. There were 12,379 active listings in December, down from 14,247 a month earlier.
The above was cited in the recent Birmingham News Article by Roy Williams, Thursday, January 24, 2008