According to the Alabama Center for Real Estate (ACRE), year-to-date (YTD) through the month of September, new home sales in Alabama showed a 4.5% increase from 2011. New home sales in Alabama’s five metro markets represented nearly 70% of all statewide transactions, and among those metro markets, 60% of them experienced YTD gains in new home sales compared to 2011.
Birmingham, for example, witnessed a 12% rise in new home sales when compared to September of last year.
Alabama’s metro markets also saw an increase in new home prices, with the median new home sales price at $212,831, up 1.4% from August 2012 and up 8% from September 2011. Housing starts rose statewide in September, showing a 1.2% gain from August and a 6.6% gain from September of last year.
September also showed that 18 of 25, or 72% of local housing markets experienced YTD growth in sales from 2011.
These numbers come as welcome news to the Alabama real estate community, as well as new home buyers who have been looking for new golf homes for sale in Birmingham golf resort communities, such as Ross Bridge. According to Global Insight’s most recent short-term economic outlook, current housing market trends are “setting the stage for a broad-based improvemtent in growth” to be seen over the next couple of years.