Alabama Home Sales Rise

Alabama home sales rose in May, despite a dip in the national numbers.

Homes sold across the state totaled 4,082 last month, a 6.5 percent rise from April and a 23 percent jump from May 2009, the Alabama Center for Real Estate at the University of Alabama said today.

So far this year, state home sales are tracking 15 percent ahead of 2009.

The median selling price was $127,454, an 8 percent increase from April, while the average selling price of $148,049 was a 6 percent improvement. Compared to the year-ago period, however, both prices were essentially flat.

In metro Birmingham, 1,120 homes were sold in May, rising 5.6 percent from April and 17 percent from a year ago.

Earlier today, the National Association of Realtors said sales of previously occupied homes dipped 2.2 percent from April to May, suggesting that the boost from federal tax credits for home buyers is waning.

To obtain the credits, contracts had to be written by April 30, but closings are not required until June 30. That means some areas may continue to feel the effects of the incentives.

By Dawn Kent, Birmingham News