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Alabama
Biggest home price increase projected in 2014: Montgomery metro
Forecast 4-year price increase: 10.1 percent*
Current median price: $124,000*
Prices to reach trough in: 2010 Q4
Median family income: $56,400
Population: 366,400
The housing market in the Montgomery area has been soft due to the weak job market, according to real estate software company T-ReX Global. The unemployment rate in the region around Alabama’s capital has decreased to 9.5 percent in May, from 11.1 percent in January, according to data from the U.S. Bureau of Labor Statistics. Still, the area was not significantly affected by foreclosures, and Fiserv and Moody’s Economy.com expect it to rebound more quickly than other parts of Alabama over the next few years.
Index used to calculate historical home price changes: FHFA
Data source: Fiserv and Moody’s Economy.com (unless otherwise noted)
* For all slides, the forecast four-year price increase refers to the expected change in the median home price from 2010's first quarter to 2014's first quarter. Current median prices are based on first quarter 2010 data, unless otherwise noted.
