Birmingham has once again proven to be a popular place to own a home! September residential sales numbers were released earlier this month, and the numbers are nothing short of incredible.
The growth in our region continues: the Alabama Center for Real Estate (ACRE) announced that residential sales in the Birmingham Metro Area rose over 14% in September, compared to sales in September 2013. This metro area, which includes Hoover and the Ross Bridge community, has posted impressive numbers month after month, suggesting the housing recovery is well under way.
Sales in September surpassed expectations, with 70 more units sold than was originally forecasted. This jump in sales dwindled supplies, dropping inventory by 4% from the previous month and by nearly 9% since this month last year. This drop in inventory is in line with seasonal and historic patterns, where steady decreases in inventory are typical. Housing supply now sits at 6.1 months, an ideal number that indicates balance in the housing market.
The year-over-year growth observed in the Birmingham metro area is exceptionally exciting, especially for prospective homebuyers and current homeowners in the region. This encouraging optimism is also seen on a national scale. According to Doug Duncan, senior vice president and chief economist at Fannie Mae, “the September National Housing Survey shows a slight recovery in consumer housing sentiment … bringing us back to the modestly positive trend we’ve seen over the last year.”
For families searching for the right community to call home, the entire Birmingham metro area including Hoover, Alabama, certainly delivers! New homes, like the ones available in our Ross Bridge community, provide families everything they need to enjoy the golf resort lifestyle. The Ross Bridge Golf Course, a stop on the famous Robert Trent Jones Golf Trail, inspires the stunning design and layout of our entire neighborhood with parks, pools, walking paths and open space. Of course, we can’t overlook the benefits of living just minutes away from the Marriott Renaissance Ross Bridge Golf Resort & Spa! But best of all, newly built homes are available in varied designs, declaring monotony a thing of the past.
Owning a home in the thriving Birmingham metro area is only made better when that new home is in the Ross Bridge community!