Home price trends in Birmingham, Ala.

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City-by-city price comps
Birmingham, Ala.

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)
Foreclosures in 2007:
(1 for every 192 households)
Change in foreclosures: -8%
Expected to hit bottom: Q2 2009
Percent drop needed to reach bottom: -1.1%
Current rate comparison
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Price trends
Q1 2008 national median price: $196,100
Q2 2008 national median price: $206,400
Q3 2008 national median price: $200,400
Q4 2008 national median price: $180,100
Q1 2008 local median price: $153,200
Q2 2008 local median price: $163,500
Q3 2008 local median price: $156,100
Q4 2008 local median price: $135,400

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