BIRMINGHAM, AL — Birmingham’s real estate market has seen better days, according to a recent study by real estate website Realtor.com. The study lists the Magic City among the worst midsize real estate markets in the country.
With mortgage rates hitting record lows but consumers struggling financially due to COVID-19, the real estate website Realtor.com today released its report on 2020’s Best Real-Estate Markets.
To determine the most attractive real-estate markets in the U.S., Realtor compared 300 cities across 24 key metrics. The data set ranges from median home-price appreciation to home sales turnover rate to job growth.
Birmingham ranks 281st overall and 95th among midsize cities.
Health of Birmingham’s Real-Estate Market (1=Best; 150=Avg.):
- 269th – % of Homes with Negative Equity
- 217th – Avg. Days Until Sale
- 196th – Job Growth Rate
- 240th – Foreclosure Rate
- 209th – % of Delinquent Mortgage Holders
- 244th – Number of Unsold Homes Owned by Banks (REOs)
- 271st – Population Growth Rate
- 22nd – Realtor “States with the Best Health Infrastructure for Coronavirus” Score
Boise, Idaho topped the list of cities with the best midsize real estate markets. Boise was followed by Frisco, Texas; Gilbert, Ariz.; Durham, NC; and Tacoma, Wash.