The Alabama Center for Real Estate (ACRE) reports, in its October residential sales report, that Alabama residential sales totaling 3,889 units during October reflect an increase of 2.7 percent growth from the same period a year earlier. Sales for the month continue to trend upward for the state, which bottomed out at 2,467 sales during October 2010, but has improved each year since. Sales are 22.3 percent above the October five-year sales average (2010-14) of 3,179 units.
Google is launching its own mortgage comparison tool via its Compare service. Beginning very soon, consumers all over the country will be able to shop for a mortgage on Google. The mortgage comparison tool is currently available in California, with more states to follow.
Alabama's housing market has improved since the recession as more jobs are coming to the state, and recent data from NerdWallet showed just where Alabama ranked among U.S. states for mortgage health. Alabama ranked 29th for its mortgage health, with an overall score of 64.22. North Dakota finished with the highest score for U.S. states at 98.13. Florida scored the lowest for Alabama's neighboring states at 20.17.
Alabama new home sales totaling 378 units in September increased 12.5 percent from the same period last year, states the Alabama Center for Real Estate's September 2015 New Construction Report.
Alabama residential sales during the third quarter of 2015 continued to improve, up 15.4 percent compared to the same period a year ago. Total sales of 14,504 units represent the best third quarter since 2007 (15,000 units). With that said, third quarter sales are still 13 percent below the quarterly peak in 2005 when 16,674 units were sold.