Home sales down 32 percent in Birmingham area Prices down in every sector of market

The Birmingham News Today in an article by Dawn Kent noted our new home statistics and I was also glad to see some people echoing, as I have been reporting for a while, that comparisons to last year are now rather meaningless.

A separate set of numbers in the Rudulph/Brander Monthly Birmingham Area Real Estate Report shows new home sales in August improved from July by 12 units, which Fletcher cites as a positive trend for his industry.

The average prices for sold new homes also increased slightly from July to August, the report says.

Fletcher and Hal Tillman, president of the Realtors group, both note that as long as current sales are compared to the record activity of 2007, statistical declines are inevitable.

Amid the year-over-year declines in the Realtors report, Tillman pointed to one that is a positive sign: the inventory of area homes on the market dropped to 11,914 in August from 13,582 a year ago.

“It’s typical supply and demand,” he said. “When that inventory drops, you’re continuing to see the house values remain constant from last year.”


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