(Birmingham, AL) The Alabama real estate market is already recovering from recent lows. Evidence is everywhere.
Inventories of property on the market hit an all time high at the end of november 2007 into the first of December 2007. Since then, the inventory of property for sale has been shrinking. This is always the first sign. As property inventories decrease, the demand for property rises. This causes price support and shores up values.
Mortgage applications, or new people applying for a home loan, increased 12% just last week. This is yet another sign that more buyers are entering the market to buy a home. If you combine this with the fact that inventories are shrinking, it doesn't take a genius to see that values will stop declining soon and prices will again start to rise.