Federal Data Shows Alabama Real Estate Remains Relatively Strong

A closely watched federal measure of housing sale prices rose 1.2% in February in Alabama, Mississippi, Tennessee and Kentucky.

 That outstripped the 0.6 percent increase in the nationwide index published by the Office of Federal Housing Enterprise Oversight. The overall incrrease surprised analysts, who had been expecting housing market woes to lead to a 1.5 percent decline nationwide…..

It was the first increase since November in the four-state East South Central number and the first increase since August in the national index. Prices for the region were 0.6 percent above where they were in February 2007, while they are 2.4 percent below February 2007 nationwide.

In general, home prices have held up better in Alabama and along the Gulf Coast than nationwide. Prices rose 5.5 percent in Mobile County and 4.5 percent statewde last year, according to federal data."

Source:  Jeff Amy, Mobile Press-Register, April 23, 2008

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