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Alabama Residential Report: YTD Sales up 6.3%; 72% of local markets show improvement from 2011!

By October 22, 2012November 27th, 2012Ashley, Residential

Published: Friday, October 19, 2012, 4:02 PM Updated: Saturday, October 20, 2012, 5:49 AM

Alabama Center for Real Estate (ACRE) By Alabama Center for Real Estate (ACRE)

Real estate sales are seasonal and September represents the annual transitional month where the market anticipates a slower pace in closed transactions, a trend that traditionally continues into the winter quarters. Alabama statewide residential sales during September were 4.2 percent lower than the same period in 2011. Year-to-date (YTD) through September, sales are up 6.3 percent from 2011. Inventory. Alabama’s housing inventory has declined by 16% from month of September peak in 2010. Infograph provided by ACRE. All rights reserved.

Supply: The statewide housing inventory in August was 33,510 units, a decrease of 7.3 percent from September 2011 and 16.4 percent below the month of September’s peak in 2010 (40,069 units).

There were 10.5 months of housing supply (6 months considered equilibrium) in September 2012 versus 10.8 months of supply in September 2011, a slower than desired decline of 3.3 percent.

September inventory in Alabama experienced a 1.0 percent decrease when compared to the prior month. This trend is consistent with historical data indicating that September inventory on average (’07-’11) traditionally decreases from the month of August by 1.1 percent.

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