Good news for the Yellowhammer State! The Alabama Association of REALTORS® just dropped their June report, and it's looking sunny for the housing market. Home sales are up for the second month in a row, spiking 8.2% since May and a whopping 10.9% compared to June last year. Hold your horses! While these numbers are awesome, experts are pointing out that we're not quite back to pre-2024 levels. As Alabama REALTORS® economist Evan Moore puts it, the "slump" you might be hearing about is real, but the current conditions actually favor buyers. Think lower prices and plenty of options! The median sales price in Alabama jumped to $233,458, a $4,488 increase from last year. We're also seeing a surge in the total value of homes sold, hitting a massive $1.86 billion – that’s 26.5% higher than last year and 9.4% better than May. Get this: active home listings are at a five-year high! We're talking 20,298 homes on the market, up 22.7% from last year. That means more choices for you, the savvy ChumCity homebuyer. Houses are taking a bit longer to sell, averaging 63 days on the market in June. That's a few days longer than May and even longer than last year. The state's economy is still booming! Alabama boasts the third-highest GDP growth in the nation and the eighth-highest jump in personal income, even beating out Georgia, Tennessee, and Florida! Unemployment is holding steady at a low 3.3%, and our labor force participation is at a decade-high.Alabama Home Sales Keep Climbing!
What's the Catch?
Money Matters
Buyer's Market, Anyone?
A Little Patience
Alabama's Killing It!
