December 28th, 2011
In a review this week by the Alabama Center for Real Estate, Alabama's residential sales increased over 12% in November when compared to last year at this time. This marks the first November over November real estate growth for Alabama in 2 years.
According to the National Association of realtors, Alabama (12.6% growth) slightly outpaced the national average (12.2%) in November 2011 vs 2010, and the southern region of the country increased 12.3%. Both investors and first time home buyers accounted for a large chunk of November's sales.
Even though November's sales followed the typical 4rth Quarter dip from October, Alabama's YTD sales are actually up 1.6%. The most positive news, however, is in the hope and outlook on December's numbers. If December finishes near November's pace, 2011 would be the first year since 2005 where residential sales had positive annual growth.