Alabama Center for Real Estate

Residential markets nationwide and in Alabama faced inventory shortages for several years before the pandemic, and one of the more notable outcomes thus far is the effect on residential listings. ...

New home sales represent a significant portion of all residential sales nationwide, usually around 10-12%.

Sales are now up 3.6% year to date, but are likely to moderate amid the growing economic impact of the COVID-19 pandemic.

Area sales are up 20.5% year-to-date, but are likely to moderate in the months ahead due to slowing economic activity related to the coronavirus pandemic.

Homes sold in April averaged 96 days on the market (DOM), 6 days faster than April 2019.

Months of supply increased from 1.9 to 2.0, reflecting a seller’s market in the area. 

Months of supply (inventory to sales ratio) increased from 2.8 to 3.0, reflecting a seller’s market in the area.

Sales activity in the area slowed from April 2019, but the median sales price increased from one year ago.