City-by-city price comps
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Alabama's largest city, known for its steel production, has withstood the housing woes that other Southeast cities have faced due to a smaller amount of speculators in the market. It isn't likely to be immune to job losses this year, but some forecasting groups such as Local Market Monitor expect it to be one of the few markets where prices actually will increase. | | Median price end of 2008: | $135,400 | | Median price end of 2007: | $156,100 | | Percent change: | -13.3% | | Projected change through Q3 2009: | -0.9% | | Affordability rating: | 0.0 | Foreclosures in 2008:
(1 for every 212 households) | 2,163 | Foreclosures in 2007:
(1 for every 192 households) | 2,351 | | Change in foreclosures: | -8% | | Expected to hit bottom: | Q2 2009 | | Percent drop needed to reach bottom: | -1.1% |
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