The pattern of increased home sales in the Birmingham area continued in October, with 938 homes being sold in the Birmingham metro area. That’s exactly 100 more homes than were sold in the metro area in October 2012. The average price of those houses increased also. The median home price in Birmingham rose nearly 8% to $161,350.
All this is good news for homeowners. Increased demand, paired with continued low interest rates, means a stabilized and strengthening real estate market. That bodes well for the economy overall.
To read more about October’s home sales, click here.