The following report is calculated by the Alabama Center of Real Estate. This report, along with more detailed information, can be found on their website: http://arerec.cba.ua.edu/ Are you considering a move into or out of Lee County Alabama? If you would like to receive these monthly reports, emailed directly to you, along with other local area information, feel free to contact me with a request.
The National Association of Homebuilders (NAHB) reports that the news surrounding the housing market of late has been undeniably encouraging. Both new and existing single-family home sales saw their fourth consecutive monthly increases in July, rising 9.6% and 7.2%, respectively.
On the rise for six straight months and foreshadowing the improvement in existing home sales, the Pending Home Sales Index of the National Association of Realtors® rose 3.2% in July from its June reading.
In an even more upbeat sign of a budding recovery, the inventory of new single-family homes for sale has fallen to 271,000, its lowest level since March 1993. Inventories have been falling for 27 months from a peak of 572,000 homes for sale in July 2006.
A higher sales rate and lower inventory reduced July's supply of housing to 7.5 months, down from 8.5 months in June. The months' supply measures how long it would take to sell the current inventory of homes based on the month's sales rate. As recently as January, this measure stood at an all-time high of 12.4 months.
ACT SOON to take advantage of the $8000 tax credit, offered to qualifying buyers that close on a home by November 30th.
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Active in Alabama, Mara Hawks, REALTOR with FIRST REALTY of Auburn, AL, #1 Real Estate Team in Lee County, THE LEADER in professional real estate services in Auburn, Opelika & Lee County for over 3 decades! Committed to INTEGRITY, KNOWLEDGE & SERVICE.
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Disclaimer: All information provided by this author is is not guaranteed, may be based on information collected from several sources, which may or may not be deemed reliable at the time of researching this article and may be time sensitive.
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Mara as usual you have provided everyone in the Lee County area an up to the minute picture of what is going on with the market. I am sure this information is well received.
Mara, I have to echo Bill's remarks. This is a very nice market report for your area!
Hi Mara:
Very nice display of your local stats with lots of information.
Hoping that properties are moving well there...
Have a great week!
Great stats post and I really like the look of your charts! Simple and to the point!
Lots of information here. If I was shopping for a house or considering selling a home in any of these areas, I would put this chart to use!
Hi Mara! WOW, what a market report! Great chart--did you do that in Excel? It looks like you did it professionally! Excellent job for your Lee County consumers.
Hope you have a spendid Sunday...
Mara - This is a great resorce for anyone in Lee County to keep up-to-date with the market,
Mara, this is a fantastic stats post. It is really amazing to see the drop in condo sales. The others weren't as dramatic, but that area was! Wow! This is a great chart of information!
Marny - thanks for stopping by. The drop in condo sales seems to flow with the startup of college classes in this university town. They'll go up again, a bit next month and then Dec for the January semester.
Jenniver - thanks for stopping by. I enjoy reading your posts & what's going on in Fiskill, MY.
Debe - why thank you! In EXCEL, for sure. I'm sure there are lots more clever programs, but excel works well for me with these reports. Missing the rebar...:-( hope you'll share some notes :-)
Judi - I think these reports really add valuable information into the homebuying & selling points.
Russell - Thanks, Russell. I personally like reports that are easy on the eyes, simple and to the point. I just tend to understand them more easily.
Toula - It always makes me smile to see your "rose" you leave in your visit. Thank you!
Ray -Thanks, Ray! I appreciate you stopping by. Auburn is a wonderful place to live!
Bill - Thanks, as always, for your support and leadership.
Hi Mara, jut checking in to see what's happening in your part of the world!