If income growth is key for greater household formation, housing analysts say some recent progress on the salary front may soon unleash pent-up housing demand among younger adults.
ACRE Research reports that Alabama residential sales totaled 4,139 units in August, a decrease in sales growth of 2.1 percent from the same period a year earlier and 210 units shy of our monthly forecast. Nationally, sales were off 5.3 percent in August from the prior year.
The Alabama Center for Real Estate reports that Alabama new home sales in July increased 2.1 percent from the prior month but slipped 9.5 percent from the same period a year earlier.
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The Alabama Center for Real Estate's Alabama residential sales report shows growth of 2.1 percent for July, compared to last year. July sales are now up 51 percent from its July bottom in 2010.