Alabama’s housing market showed mixed signals in August, according to the latest Alabama Economic and Real Estate Report released Friday by the Alabama Association of REALTORS®. While sales numbers were down, buyers are finding more affordable opportunities thanks to recent mortgage rate cuts and softening home prices.
Statewide home sales dropped 1.7% from July and were 5.6% lower than August 2024. The median sales price fell to $222,811, down 2.6% month-over-month and 5.4% year-over-year.
Even with fewer sales, the combined dollar volume of homes sold in August reached $1.69 billion. That figure was 6.3% higher than last year, though 3.4% below July’s total…