Home sales rebounding

By: Associated Press
By: Associated Press

BIRMINGHAM, Ala. (AP) - Recent sales data shows Birmingham's
housing market is coming back but experts say it's too early to get
overly excited about an uptick.

Last month, metro area home sales showed their first ear-over-year increase in well over a year.

The Birmingham association of Realtors said 933 homes were sold, up 13 percent from October 2008.

Jim Dye is head of RealtySouth. He suspects there may be an
overcorrection going on in the market after months of slow sales,
which is why he advises viewing the latest numbers with caution.

For October, the Birmingham area's median price rose 8 percent
over the year-ago period to $142,500, while the average price fell
5 percent to $160,266.

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