Alabama Center for Real Estate

New homes sold in July averaged 58 days on the market (DOM), 14 days faster than one year ago.

Homes listed for sale decreased 27.9% from 21,865 listings one year ago to 15,772 in July.

Although median family incomes were on the rise in 7 of 12 metro areas, and rates on a 30-year fixed mortgage are nearing historic lows (composite rate of 3.23% in Q2 2020), home price appreciation continued to trend upwards in the second quarter of 2020.

With 10 of 13 markets reporting new construction sales data for June, it appears likely that new home sales will surpass the 1,000 mark for the first time, according to ACRE's database. 

Homes listed for sale decreased 24.7% from 21,804 listings one year ago to 16,421 in June.

The conditions for the 25% quartile struggling to make rent and mortgage payments are not making their way into the housing headlines and are being overlooked by the homebuilding industry and noted analysts.

Twelve of the fifty largest metropolitan areas in the United States have reached the January recovery baseline according to the Realtor.com

Listen to ACRE Director of Research KC Conway on the Appraisal Institutte's AI Answers podcast.

The list is comprised from an annual study conducted among the Counselors’ members and is intended to bring attention to the trends and burgeoning issues most impacting the commercial real estate industry in the near-term and long-term.

New home sales represented 15.7% of all residential sales in May, up from 12.4% one year ago.