Birmingham Home Sales & Prices Continue to Rise


New homeowners in Ross Bridge and those looking to buy new homes in Hoover, Alabama and Birmingham will be thrilled to know that home sales across the Birmingham metro area rose 9% in April. The good news doesn’t stop there!

Prices rose 10% in April, as compared to a year ago, and median prices for new homes sold rose 17%. New home builders are also witness to the real estate market’s positive movement. In the National Association of Home Builders/Wells Fargo Housing Market Index (HIM) home builders expressed improvement in all three index components—traffic of prospective buyers, sales expectations and current sales conditions.

“Builders are reporting an active spring buying season as consumers become more confident about going forward with new-home purchases along with steadily firming prices in the local markets,” said Rick Judson, chairman of the National Association of Home Builders.

Dollar sales improved by 14% in April indicating improving market conditions—unit sales rose 10%. This correlates with the index which reported an improvement of four points in current sales conditions. Traffic of prospective buyers increased three points and future sales expectations rose a single point. Compared to last year, Birmingham metro area home sales are up 8% overall.

According to the CoreLogic Case-Shiller Home Price Index, prices are set to further rise in 2013 and beyond. Economists expect the index to rise at an annual rate of 3.9% from the fourth quarter of 2012 to 2017.

Source:, National Association of Home Builders.