A
labama's housing market experienced a slowdown in September, with 5,340 home sales recorded, a decrease of 10.6% from the previous month and 8.2% from last year. This marks two consecutive months of decline, which is consistent with historical trends that show home sales typically fall during the final months of each year.

    Despite the decline in sales, the median sales price increased by 3.7% year-over-year to $224,812 in September. However, this represents a 4.6% decrease from last month's high. Active listings continued to rise for the eighth consecutive month, reaching 18,819 listings, a 3.8% monthly increase and a significant 38.3% annual increase.

    The supply of homes increased in September, with 4.6 months of inventory available, up from 4.1 months in August and 1.3 months more than last year. This is the highest level of supply seen in over five years and indicates that Alabama's market is moving towards a healthy balance of 5 to 6 months of supply.

    According to Jeremy Walker, CEO of Alabama REALTORS, "We believe the current trends of rising listings and increased inventory will create more opportunities for buyers. As more homes become available, we may see prices ease in the coming months."