Birmingham-area homes sales down, but so is inventory

Again the Birmingham News cites us in today’s paper

New home sales in the Birmingham area fell again in January, according to a separate report. The Rudulph-Brander Monthly Birmingham Area Real Estate Report said 219 new homes sold in January, compared to 384 in the previous year. In December, 411 new homes sold in the area, the report says.

Tom Brander, the report’s author, said the number of new homes on the market in January was smaller than the previous month, a positive sign. Bart Fletcher, executive officer of the Greater Birmingham Association of Home Builders, said he believes conditions will improve in the spring and summer since the Birmingham market has fared better than other cities.

Click here for their full article.

As we mentioned in our overview published January 15, 2008 “New sales declined to 219 homes this month from 411 in December, a deterioration of 178 units. Used sales decreased to 792 homes in January from 778 last month, a deterioration of 14.

Absorption rates for new homes improved slightly to 7.6 months from 8.3 of inventory last month. This is an increase of .7 months over last year at this time.”

See here for our article.


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