Alabama’s housing inventory reaches another record low in April
By ACRE Research
May 24, 2021
Sales: According to the Alabama Association of Realtors, April home sales in the state increased 33.4% year-over-year (Y/Y) from 5,300 to 7,068 closed transactions, marking 11 consecutive months of Y/Y gains. Following seasonal trends, sales increased 0.6% from March. Sales are now up 22.8% year-to-date. Two more resources to review:
For all statewide housing data, click here.
Inventory: Homes listed for sale decreased 46.6% from 17,956 listings one year ago to 9,582 in April, a record low. The state’s housing inventory has declined year-over-year for 74 consecutive months. Months of supply (inventory to sales ratio) dropped from 3.4 months to 1.4, also a record low, reflecting a market where sellers generally have elevated bargaining power.