This past weekend Lauren Cooper of the Birmingham Business Journal wrote about this quarter’s release of The University of Alabama’s “Alabama Real Estate Confidence Index”. According to the article, the index shows significant increases in real estate expectations in Birmingham and other North Central regions of the state.

This is promising news for the future of new home sales in Birmingham over the coming months. To read the original article posted on Bizjournals.com/Birmingham, please follow the link.

———-

Confidence Grows Among Alabama Real Estate Execs

Confidence is up among the state’s real estate professionals, particularly in the central Alabama area, according the Alabama Center for Real Estate.

The University of Alabama center released Friday its Alabama Real Estate Confidence Index for the first quarter of 2011, with all indicators showing improvement.

ACRE said the overall index score was 47, which was up from 43 the previous quarter but below the mid-level mark of 50, indicating no change expected. The score includes both residential and commercial real estate expectations.

The North Central region, which includes Tuscaloosa, Birmingham and Anniston, had the most significant increase on the index of the four regions of the state, jumping 10 points to 56. However, inventory, pricing and credit were still below the 50 mark.

ACRE said the state’s commercial market participants were more optimistic in their scoring for the first quarter. That index rose 9 points to 59 overall and to 55 for sales expectations. But pricing remained weak at 40.

ACRE’s confidence index is compiled from a survey of nearly 600 statewide real estate professionals.