Statewide Home Sales on Pace for Another Record Year
Topics: Research, Residential Real Estate
Markets: Statewide
There are many takeaways from the graph above. First, we can easily see the consistently seasonal nature of residential real estate sales. Second, the effects of the Great Recession on Alabama’s residential market is evident as 2009 YTD sales represent a 16-year low. Finally, 2018 was a record year* and that growth is continuing into 2019. The 2006 peak of 18,077 sales through April was broken in 2019 with 18,727 closed transactions.
*The 61,062 closed transactions in 2018 eclipsed the pre-recession peak of 59,480 in 2005.
Related Stories
Demand remains strong in Alabama’s housing market
June home sales in the state increased 14.4% year-over-year (Y/Y) from 7,198 to 8,234 closed transactions, marking 13 consecutive months of Y/Y gains and the highest monthly sales total in the ...
Alabama’s housing inventory reaches another record low in May
Housing inventory in the state continued to tighten, reaching another record low of 9,363 listings across the state in May, a decrease of 2.3% from April and down 45.1% from one ...
Alabama’s new home sales continue to rise in April
April new home sales in the state increased 20% year-over-year (Y/Y) from 814 to 977 closed transactions, marking 22 consecutive months of Y/Y gains.