Alabama’s home sales up 9 percent
June 28, 2009 by admin
Filed under Positive Real Estate
Alabama’s home sales in May rose nearly 9 percent, as the market began to feel a favorable impact from greater affordability and first-time home buyer credits, said a recent report.
According to the Alabama Center for Real Estate at the University of Alabama, 3,409 homes were sold in the state last month. That’s a nearly 9 percent increase over the previous month, but a nearly 26 percent drop from May 2008.
The center reported the Alabama Housing Affordability Index increased more than 15 percent for the first quarter of this year over the same time period last year, due in part to lower interest rates, a slight decrease in median home sale prices and an increase in median income.
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