In Alabama, the real estate market seems to be looking up. Last month, Birmingham went against the trends and sold almost 40% more homes than July of last year. While the 36% boost certainly isn’t a bad thing, celebrations were less than over the top when the realty industry noted that last year’s low point was largely due to the first-time home buyer’s tax credit that expired last June.
And even though the increase this year from June-July is small, the rates of sales are going up, and that’s absolutely something to be excited about. After all, houses are selling–things could be worse. And month after month, Birmingham is selling more homes than the month prior. What else is going up? Prices! Last year, the average price for a home sold was up by 5% this July. And foreclosures are still lurking; last month’s sales were about 28% foreclosure related.
The Birmingham movers would like you to know that the low interest rates are intended to stay where they are for the next two years, according to the Federal Reserve. If you intend to buy or sell a home in the Birmingham area, be sure to contact your #1 preferred family movers to get your job done quickly & with care!