Area home sales rise in March, but prices slip, Realtors group says – Business News from The Birmingham News – al.com


Here is a summary of the Realtors report for March From the Birmingham News:

Area home sales rise in March, but prices slip, Realtors group says: Posted by Dawn Kent: Birmingham News April 17, 2009 10:18 AM

Metro area home sales rose 18 percent in March compared to February, the Birmingham Association of Realtors reported today.

Area home sales totaled 854 last month, compared to 725 in February. In the year-over-year comparison, sales slid 27 percent from March 2008’s total of 1,162, but in the current downturn, month-to-month comparisons have taken on greater significance.

Both the average and median sold prices dropped from the year-ago mark. Last month’s average price was $160,929, an 18 percent fall from March 2008. Meanwhile, the median price fell 14 percent from a year ago to $159,900 last month.

via Area home sales rise in March, but prices slip, Realtors group says – Business News from The Birmingham News – al.com.

The board of Realtors, note a greater month to month increase than our report, 9% vs. 18% not sure exactly how, it could be due to taking that data somewhat later than our report this month and that their report does not recalculate the prior month data to account for late reported sales. The year to year decrease is within 2%. The MLS report and our report incorporate slightly different areas so our gross numbers are higher. Both reporting methods are accurate, just slightly different!

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2 thoughts on “Area home sales rise in March, but prices slip, Realtors group says – Business News from The Birmingham News – al.com

  1. Elizabeth Cooper-Golden

    Hi Tom,

    Longtime no speak. We experience similar discrepencies with the Huntsville Area Board of Realtor reports. We do pull areas slightly different and when I asked they mentioned the report pull date issue and also mentioned the inclusion of sales data outside of our MLS database(primarily provided by our local Builder’s Association).

    In the statistics business close is good as long as it effectively tells the same story overall. However, our local board does tend to spin things in a very positive direction. I mean really, a month over month increase in sales in such a seasonal business can only really be worthy of comment it the increase is much greater than in previous years.

    We recently had a front page story in the Huntsville Times that quoted the Huntsville Area Board of Realtors and the touted a 5% increase in sales from Jan to Feb 2009 as super good news. When we dug into it, lol, it was the lowest increase between the same 2 months in over 10 years. So I ask, was it actually good news? …I think not.

    Kind Regards,
    Elizabeth

    Reply
    1. tbrander Post author

      Thanks as always for the feedback. You echo my comments for last month as relates to Huntsville exactly!! This month not much better. While the overall sales level is not off as much in Huntsville as in Birmingham, ie. only back to 2004 or so levels in Huntsville vs,. 1999 in Birmingham the inventory is in somewhat worse shape in Huntsville. And it seems to me that the trends are a bit worse up there but that is more of a toss-up that will become clearer in the next few months as spring happens, or doesn’t! I’ve gotten the local paper to pick me up as a source up there once but I suspect that they got leaned on!! I imagine when I start reporting better data that might change!

      By the way your site and blog are looking good!
      Tom

      Reply

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