A
labama's housing market showed signs of renewed momentum in June, with home sales increasing 8.2% from May and 10.9% compared to the same month last year, according to the Alabama Economic and Real Estate Report. This marks the second consecutive month of growth after a prolonged downturn in 2024.

    "The increase in home sales is good news for Alabama, but it's essential to note that June's numbers are still lower than those seen before 2024," said economist Evan Moore. "Factors like available inventory, slowing median price growth, and Alabama's robust economy suggest the market favors buyers."

    In June, the median sales price rose 1.4% to $233,458, a two percent increase from last year. The dollar volume of homes sold across the state reached $1.86 billion, a 26.5% year-over-year increase and a 9.4% rise over May.

    The number of active listings climbed for the fifth consecutive month to 20,298, the highest figure in five years and a 22.7% increase from last year. Inventory was also up three percent compared to May, providing buyers with more options across various price points and property types.

    However, the average days homes spent on the market increased to 63, ten days longer than June 2024. Despite this, the broader trend suggests a more balanced and accessible market for home seekers.

    Alabama's economic conditions continue to support the housing market's recovery, with the state ranking third in gross domestic product growth and seeing the eighth-highest increase in current-dollar personal income. The unemployment rate has remained steady at 3.3% for nine straight months, below the national rate of 4.2%.