80 Percent Of Alabama Markets See Median Home Price Increase In May

By ACRE Research

Sales: There were 6,306 residential sales in Alabama during May, an increase of 8.2 percent from one year ago. Current sales results are 29.1 percent above the five-year monthly average of 4,885 transactions. Two more resources to review: Quarterly Report and Annual Report.

Forecast: May sales were 12 percent or 677 units above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 22,391 residential sales statewide year-to-date, while there were 24,387 actual sales through May.Supply: The statewide housing inventory during May was 24,720 listings, a decrease of 7.3 percent from May 2017 and 42.4 percent below the 10-year May peak in 2008, when 42,924 units were listed for sale. May inventory increased from April by 2.8 percent. This is consistent with historical data trends indicating that May inventory on average (2013-2017) increases 7.8 percent from April.

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