Winter 2014 has been nothing short of unusual in the Birmingham area! Multiple winter storms afflicted our region along with one of the coldest winters in history. The weather seemed to have dampened the housing market, leaving many nervous about the remainder of 2014. But as January sales numbers were released, homebuyers and industry experts were both pleased and relieved to see an influential sector of the market doing exceptionally well.
According to Reuters, sales of new single-family homes reached their best levels in nearly six years, increasing by 9.6%. Originally, economists had forecasted that January home sales would decrease to a 400,000-unit pace, but instead they rose to a 427,000-pace. And, better yet, January new home sales across the entire Southern region increased by 10.4%, despite the dismal predictions.
The Birmingham Business Journal also notes that inventory is currently low in our area, which may drive up home prices. Rising home prices and incentive to build more houses could boost the economy, further encouraging a healthy recovery. As inventory is replenished, home prices should level out as a result, making homeownership more attainable for many.
Regardless, these latest sales numbers plant a seed of optimism in the Birmingham housing market, urging more and more to return to the market. It is widely known that new homes have an unprecedented impact on entire markets, and can act as an indicator for future patterns. With these impressive improvements in the new homes portion of the market, we hope to see others follow suit!
With homes like the ones available at Ross Bridge on the market, it’s no wonder buyers are snapping up new homes so quickly! In our community, our newly built houses attract all types of homebuyers. The diverse selection in designs and exteriors, as well as the choice of three unique neighborhoods, make moving into Ross Bridge an extraordinary experience.
Aside from the breath-taking homes, Ross Bridge simply offers more to residents and their families. Everything from year-round family events and activities to resort-style amenities are available to enjoy. And, if you’re a true golf enthusiast, then you’ll certainly appreciate our Ross Bridge Golf Course, a stop on the famous Robert Trent Jones Golf Trail!
As the economy improves across the country, as well as in the Birmingham region, more families will be moving into one-of-a-kind communities like Ross Bridge. We look forward to our community growing with new residents!
Source: Birmingham Business Journal