Photo credit: Special to ACRE
Five things to know in real estate this week
There is a lot going on in the real estate world, both nationwide and locally.
We've compiled just a few things professionals might want and need to be aware of this week.
1. Home sales nationwide are at their highest pace in a decade. According to the National Association of Realtors. Home sales grew in March 4.4 percent from the previous month and grew 6 percent from the same omonth a year ago.
2. Last week, the 30-year fixed-rate mortgage dropped to its lowest point since November, according to NAR and Freddie Mac. The average was 9.97 percent, compared to 4.08 percent the week prior. This was still above last year's rate of 3.59 percent during the same period.
3. Alabama home sales rose 13 percent in March over last year. This represents the highest number of home sales for the state since 2007 at 5,222. Home sales grew from 3,564 during February. Year-to-date, home sales in Alabama are 8.5 percent higher than a year ago at 12,189.
4. The Birmingham Business Journal recently hosted its annual Commercial Real Estate Deals of the Year event at the newly-renovated Pizitz building in Birmingham. Click the link below to check out scenes from the event.
5. The Alabama Residential Real Estate Conference & Expo is just around the corner. Limited seating is available for the May 4 event that will take place at The Club atop Red Mountain in Birmingham. Click the link below to check out the list of speakers and presenters and reserve your tickets or coporate table.