Looking back at 2009…

The Housing Price Index (HPI) which tracks appreciation/depreciation of residential real estate market prices reflects a decline (at the national level ) of approximately 4% in market price bringing current housing affordability indexes to the most attractive level in decades.

But remember all Real Estate Markets are local…. And as seen below our market has fared better than most.

Median Sales Price of Existing Single-Family Homes ($000 thousands)

Metro Area      2006     2007     2008   2008.Q3  2008.Q4  2009.Q1   2009.Q2 2009.Q3 %Change

Bham AL  165.1 161.3 153.9  156.1  135.4  130.4  152.3 153.3 -1.8%

U.S.     221.9 217.9 196.6  200.4  180.2  167.3  174.2 177.9 -11.2%

NE       280.3 288.1 271.5  269.9  248.8  235.2  245.8 244.5 -9.4%

MW       164.8 161.4 150.5  158.9  139.5  131.6  146.4 150.2 -5.5%

SO       183.7 178.8 169.4  173.8  156.7  146.6  158.6 160.0 -7.9%

WE       350.5 342.5 276.1  268.0  249.3  229.2  214.2 224.0 -16.4%

Foreclosures:

Prior to 2006 foreclosures were an extremely insignificant share of total market activity and were not tracked separately by the Birmingham MLS. Effective with 2009 statistics the MLS Statistics have tracked foreclosure activity. Year-to-date foreclosures have represented approximately 25% of the real estate transactions. Even so Alabama has a favorable (as compared to other states) foreclosure rate

Local Market Data

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