Alabama New Construction Report â December 2011
www.acre.cba.ua.edu
Alabama New Construction Report – December 2011 Monthly Indicators Permits December permits have increased 3.0 percent from November‘11 but remain down 12.6 percent from December'10. For the year, Alabama housing permits were down 12.7 percent from 2010.
Starts December starts have decreased 11.8 percent from November‘11 and 11.3 percent from December'10. For the year, Alabama housing starts were down 14.0 percent from 2010.
State
Recent Figures
Trends
Current Month vs. Prior Month vs. Last Year (YoY) vs. 3-Yr Avg
December November December December
2011 2011 2010 '08-'10
520 505 595 938
3.0% -12.6% -44.5%
Year-to-Date vs. Last Year (YoY)
December December
2011 2010
7,678 8,800
-12.7%
Current Month vs. Prior Month vs. Last Year (YoY) vs. 3-Yr Avg
December November December December
2011 2011 2010 '08-'10
510 578 575 947
-11.8% -11.3% -46.1%
Year to Date vs.Prior Year
December December
2011 2010
7,676 8,927
-14.0%
The increase in housing permits this month (520 vs 505 in Nov '11) reflects a more favorable projectory than recent months. Nationally, house permits were at the lowest level since data began being collected. Alabama totals in 2011 were consistent with its national counterpart. Confidence surveys of consumers and builders alike still detect elevated levels of uncertainty that underscored the fragile housing market at the close of 2011. Nationally, housing starts in 2011 were the lowest in the history of data collection.
Commentary
December new home sales in the state's 5 metro markets(70% of market) results were positive: up 29.5% from November 2011 and up 9.5% from December 2010. More importantly, statewide new construction inventory has declined by approximately 25% from December 2010 and by 7.4% from last month. According to McGraw-Hill, residential contract values increased by 19.4% to $222.3 million in December '11 compared to December '10 values. This figure is consistent with December 2002 @ $220.1 million (December's 10-year average = $269.5 million or 17.5% higher than December '11). According to the Alabama Dept. of Industrial Relations, statewide related construction employment was up 1.7% (1,100 jobs) to 64,300 from last month but is down by 5.6% or 3,800 workers from December '10. Nationally, construction firms saw increased business activity in their futures, with 2011 the first year since 2006 when total hires exceeded total job separations for the industry. New home construction, builder sentiment, and existing home sales all improved in the second half of 2011. Crucially, the job market picked up speed, and the unemployment rate edged down. Still, these developments were not enough to keep the single-family segment from having its worst year on record. The record-low construction numbers were a response to record-low demand for new homes while a slowdown in population growth was an additional drag on housing. Home prices fell again in 2011, but their direction at year-end was unclear. Favorable weather boosted the housing numbers at the end of 2011. NAHB’s Remodeling Market Index achieved a level of 46.6 in the fourth quarter of 2011, the highest mark since 2006.
Local 8 out of the 27 associations (30% - up from 1% in November) reported building permit gains from the prior month (Nov'11) while 5 associations (7% up from 1% in November) experienced gains in housing starts. Seven associations (26% - down from 30% last month) experienced an increase from their December'10 monthly housing starts including Greater Montgomery (50%), Tuscaloosa (47%), Lee County (36%), Greater Calhoun (25%), Greater Gadsden (33%), Greater Birmingham (25%) , and Enterprise (20%). For 2011, only 5 or 18% of associations experienced year-over-year growth in housing starts: Cullman County (87%), South Alabama (61%), Tallapoosa County (40%), Walker County (9%), and Baldwin County (4%). 2011 Year-End National Home Statistics (% change from 2010 at the end of year) New Home: Sales: down 6.2%; Inventory: down 17% and Months of Supply: down 11.6% (6.1 from 6.9) Existing Home: Sales: up 1.7%; Inventory: down 8% and Months of Supply: down 11.7% (8.3 from 9.4) © 2012 ACRE All Rights Reserved NOTE: This representation is based in whole or in part on data supplied by the reporting municipalities/boards/associations. ACRE d oes not guarantee and is in no way responsible for its accuracy.
New Construction Report - December 2011 NEW SINGLE FAMILY BUILDING PERMIT STATISTIC TOTALS Current Month
Last Month
December-11
November-11
% Difference
Last Year
% Difference
December-10
YTD
YTD
December-11
December-10
% Difference
Alabama State Total South Total*
520
505
3.0%
595
-12.6%
7,678
8,800
-12.7%
16,300
16,100
1.2%
14,700
10.9%
220,900
229,000
-3.5%
United States Total*
30,800
34,100
-9.7%
29,600
4.1%
413,600
445,800
-7.2%
YTD
YTD
*Source Data: U.S. Census Bureau
NEW SINGLE FAMILY BUILDING PERMITS BY AREA Association
Current Month
Last Month
% Difference
Last Year
December-11
November-11
Athens/Limestone **
8
12
-33.3%
22
Baldwin County **
43
51
-15.7%
Blount County
0
0
N/A
Chilton County
1
0
N/A
% Difference
December-10
% Difference
December-11
December-10
-63.6%
191
299
67
-35.8%
717
674
6.4%
2
-100.0%
4
10
-60.0%
1
0.0%
8
14
-42.9% 62.5%
-36.1%
Cullman County
0
0
N/A
2
-100.0%
13
8
Dekalb County **
2
1
100.0%
0
N/A
25
24
4.2%
Enterprise
8
11
-27.3%
5
60.0%
87
107
-18.7%
Greater Birmingham **
76
78
-2.6%
82
-7.3%
1,359
1,359
0.0%
Greater Calhoun County **
0
0
N/A
3
-100.0%
66
135
-51.1%
Greater Gadsden **
7
9
-22.2%
1
600.0%
76
106
-28.3%
Greater Montgomery
39
37
5.4%
27
44.4%
370
399
-7.3%
Greater Morgan County **
15
3
400.0%
6
150.0%
105
150
-30.0%
Dothan & Wiregrass Area
2
9
-77.8%
13
-84.6%
177
259
-31.6% -23.2%
Metropolitan Mobile**
44
36
22.2%
64
-31.3%
675
879
Tuscaloosa**
41
42
-2.4%
24
70.8%
607
611
-0.7%
Huntsville/Madison **
129
129
0.0%
161
-19.9%
1,832
2,152
-14.9%
Jackson County **
0
1
-100.0%
0
N/A
17
17
0.0%
Lee County
47
36
30.6%
30
56.7%
532
605
-12.1%
Macon County
0
0
N/A
0
N/A
2
7
-71.4%
Marshall County **
17
11
54.5%
16
6.3%
204
239
-14.6%
Muscle Shoals **
4
4
0.0%
8
-50.0%
100
151
-33.8%
Northwest Alabama
1
0
N/A
3
-66.7%
16
19
-15.8%
Phenix City
21
21
0.0%
22
-4.5%
227
288
-21.2%
South Alabama
1
3
-66.7%
2
-50.0%
30
22
36.4%
St. Clair County **
11
10
10.0%
31
-64.5%
213
243
-12.3%
Tallapoosa County
3
1
200.0%
1
200.0%
16
10
60.0%
Walker County
0
0
N/A
2
-100.0%
9
13
-30.8%
**Source Partner: www.marketgraphicsalabama.com Process: Every month data is collected from municipalities all around the state, in particular the municipalities’ building/inspections department. We also limited our data collection to municipalities with a population of 2500 or greater. By gathering the number of single family new construction permits that are issued each month it allows observation of growth or decline in the new housing market. *NOTE: Permit counts may be subject to slight change month over month due to updated permit reports from certain municpalities in previous months
©ACRE 2012
www.acre.cba.ua.edu
Page 2 of 6
PROJECTED HOUSING STARTS TOTALS Current Month
Last Month
December-11
November-11
% Difference
Last Year
% Difference
December-10
YTD
YTD
December-11
December-10
% Difference
510
578
-11.8%
575
-11.3%
7,676
8,927
-14.0%
South Total
17,095
18,412
-7.2%
15,355
11.3%
202,627
217,000
-6.6%
United States Total
33,083
35,873
-7.8%
34,034
-2.8%
382,466
418,307
-8.6%
Alabama State Total
PROJECTED HOUSING STARTS BY LOCAL MARKETS Association
Current Month
Last Month
December-11
November-11
% Difference
Last Year
% Difference
December-10
YTD
YTD
December-11
December-10
% Difference
Athens/Limestone
12
18
-33.3%
26
-53.8%
203
312
Baldwin County
49
55
-10.9%
54
-9.3%
718
694
-34.9% 3.5%
Blount County
0
0
N/A
1
-100.0%
5
10
-50.0%
Chilton County
0
0
N/A
1
-100.0%
8
15
-46.7%
Cullman County
0
1
-100.0%
1
-100.0%
15
8
87.5%
Dekalb County
1
1
0.0%
1
0.0%
12
25
-52.0% -24.8%
Enterprise
6
9
-33.3%
5
20.0%
85
113
Greater Birmingham
86
92
-6.5%
69
24.6%
1,341
1,394
-3.8%
Greater Calhoun County
-1
1
-200.0%
3
-133.3%
41
139
-70.5%
Greater Gadsden
8
9
-11.1%
6
33.3%
75
115
-34.8%
Greater Montgomery
36
33
9.1%
24
50.0%
356
404
-11.9%
Greater Morgan County
6
7
-14.3%
11
-45.5%
105
146
-28.1%
Dothan & Wiregrass Area
8
14
-42.9%
16
-50.0%
185
260
-28.8%
Metropolitan Mobile
44
49
-10.2%
68
-35.3%
695
903
-23.0%
Tuscaloosa
44
55
-20.0%
30
46.7%
587
619
-5.2%
Huntsville/Madison
114
136
-16.2%
153
-25.5%
1,881
2,151
-12.6%
Jackson County
1
1
0.0%
1
0.0%
17
21
-19.0%
Lee County
42
41
2.4%
31
35.5%
516
630
-18.1%
Macon County
0
0
N/A
0
N/A
2
6
-66.7%
Marshall County
13
11
18.2%
16
-18.8%
202
242
-16.5%
Muscle Shoals
5
8
-37.5%
9
-44.4%
102
146
-30.1%
Northwest Alabama
0
1
-100.0%
2
-100.0%
17
18
-5.6%
Phenix City
21
20
5.0%
21
0.0%
229
286
-19.9%
South Alabama
2
2
0.0%
2
0.0%
29
18
61.1%
St. Clair County
11
13
-15.4%
21
-47.6%
224
231
-3.0%
Tallapoosa County
2
1
100.0%
1
100.0%
14
10
40.0%
Walker County
0
0
N/A
2
-100.0%
12
11
9.1%
*Starts data not available due to that is it a calculated statistic from previous months data that is not available.
Some variance in totals due to decimal extension.
© 2010 ACRE All Rights Reserved NOTE : This representation is based in whole or in part on data supplied by the local municipality's building department. Alabama Center for Real Estate - University of Alabama does not guarantee and is in no way responsible for its accuracy. Defintion: Housing starts are a derived value using a percentage distribution based on the particular region in the United States multiplied times the number of building permits issued in that particular month. Calculation: The distribution for the South Region is as follows: Same Month as Authorization = 44%; 1 Month Prior = 37%; 2 Months Prior = 9%; 3 Months Prior = 3%; 4 Months or more = 7%
©ACRE 2012
www.acre.cba.ua.edu
Page 3 of 6
Metro Market New Construction Report* (The 5 Metro Alabama Markets Represent
+/- 70% of
the State's New Construction Transactions)
Metro Markets Combined
Total New Construction Sold Number of Units on Market Median Selling Price Average Selling Price Average Days on Market
Current Month
Last Month
December-11
November-11
% Difference
Last Year
% Difference
December-10
% Difference
YTD
YTD
December-11
December-10
334
258
29.5%
305
1,194
1,675
-28.7%
2,076
-42.5% 19.9%
$
199,807
$
190,210
$
218,581
$
$
215,806
$
201,959
$
230,605
$
215,004
106
130
9.5%
6.9%
$
180,037
7.3%
$
208,365
10.7%
123
-13.8%
-18.1%
3,478
3,992
N/A
N/A
-12.9% N/A 5.0%
209,872
4.1%
126
130
-2.9%
YTD
YTD
December-11
December-10
Total New Construction Sold % Difference
% Difference
Last Month
December-11
November-11
103
82
25.6%
96
7.3%
1,103
1,504
136
94
44.7%
141
-3.5%
1,333
1,398
-4.6%
34
29
17.2%
28
21.4%
391
490
-20.2%
53
41
29.3%
26
103.8%
466
373
24.9%
8
12
-33.3%
14
-42.9%
185
227
-18.5%
YTD
YTD
December-11
December-10
Birmingham Huntsville Mobile Montgomery Tuscaloosa
Last Year
% Difference
Current Month
December-10
-26.7%
Number of Units on Market Current Month
Last Month
December-11
November-11
Birmingham Huntsville Mobile Montgomery Tuscaloosa
% Difference
Last Year
% Difference
I/S
December-10
Ratio
742
763
-2.8%
944
-21.4%
7.2
0
441
-100.0%
525
-100.0%
0.0
163
163
0.0%
211
-22.7%
4.8
181
192
-5.7%
215
-15.8%
3.4
108
116
-6.9%
181
-40.3%
13.5
Median Selling Price
Birmingham Huntsville Mobile Montgomery Tuscaloosa
% Difference
Last Year
% Difference
% Difference
Current Month
Last Month
December-11
November-11
$
222,440
$
209,047
6.4%
$
184,583
20.5%
$
195,650
$
192,405
$
218,320
$
213,900
2.1%
$
212,404
2.8%
$
221,189
$
220,510
0.3%
$
184,870
$
168,900
9.5%
$
158,700
16.5%
$
164,351
$
168,836
-2.7%
$
242,000
$
225,000
7.6%
$
194,450
24.5%
$
233,680
$
206,471
13.2%
$
211,402
$
192,950
9.6%
$
150,050
40.9%
$
184,166
$
162,829
13.1%
December-10
1.7%
Average Selling Price
Birmingham Huntsville Mobile Montgomery Tuscaloosa
% Difference
Current Month
Last Month
December-11
November-11
Last Year
$
254,356
$
254,356
0.0%
$
211,715
$
244,202
$
229,491
6.4%
$
238,371
$
191,543
$
178,366
7.4%
$
195,878
% Difference
% Difference
YTD
YTD
December-11
December-10
20.1%
$
227,058
$
223,285
2.4%
$
239,787
$
237,474
1.0%
-2.2%
$
179,844
$
184,298
-2.4%
December-10
1.7%
$
230,358
$
222,181
3.7%
$
215,856
6.7%
$
237,041
$
217,157
9.2%
$
232,567
$
190,626
22.0%
$
180,007
29.2%
$
209,174
$
187,145
11.8%
Average Days on Market
Birmingham Huntsville Mobile Montgomery Tuscaloosa
% Difference
Last Year
% Difference
Current Month
Last Month
December-11
November-11
Unavailable
Unavailable
N/A
Unavailable
73
51
43.1%
77
196
148
32.4%
186
68
63
7.9%
96
87
256
-66.0%
133
-34.6%
% Difference
YTD
YTD
December-11
December-10
N/A
Unavailable
Unavailable
N/A
-5.2%
83
95
-13.0%
5.4%
191
154
23.7%
-29.2%
93
94
-1.0%
139
177
-21.7%
December-10
* Source: MLS
©ACRE 2012
www.acre.cba.ua.edu
Page 4 of 6
Alabama New Single Family Building Permits Issued 1200 1100
1000 900 800 700 600
500 400
US Total New Single Family Building Permits Issued 55,000
50,000 45,000 40,000
35,000 30,000
25,000 20,000 15,000
Year-Over-Year Change for Building Permits Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sept
October
Nov
Dec
20% 10% 0% -10%
-20% -30% -40% -50%
©ACRE 2012
Alabama
U.S.
www.acre.cba.ua.edu
Page 5 of 6
Residential Construction Building Contracts in Dollars Alabama Residential Construction - December 2011 Comparisons $400,000,000
$350,000,000 $300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000
$2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2009
2010
2011
Alabama Metro Markets December 2011 170,000,000
120,000,000
70,000,000
20,000,000
2001
2002
2003
2004
2005
2006
2007
2008
(30,000,000) Birmingham
Huntsville
Mobile
Montgomery
Tuscaloosa
Auburn/ Columbus, GA
Alabama Midsize Markets December 2011 8,000,000
7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000
1,000,000 2001
2002
2003 Anniston
2004 Decatur
2005
2006 Dothan
2007 Florence
2008
2009
2010
2011
Gadsden
Source: McGraw Hill Construction - Residential Markets, Metro Markets, and Midsize Markets
©ACRE 2012
www.acre.cba.ua.edu
Page 6 of 6
Alabama New Construction Report – December 2011 Monthly Indicators Permits December permits have increased 3.0 percent from November‘11 but remain down 12.6 percent from December'10. For the year, Alabama housing permits were down 12.7 percent from 2010.
Starts December starts have decreased 11.8 percent from November‘11 and 11.3 percent from December'10. For the year, Alabama housing starts were down 14.0 percent from 2010.
State
Recent Figures
Trends
Current Month vs. Prior Month vs. Last Year (YoY) vs. 3-Yr Avg
December November December December
2011 2011 2010 '08-'10
520 505 595 938
3.0% -12.6% -44.5%
Year-to-Date vs. Last Year (YoY)
December December
2011 2010
7,678 8,800
-12.7%
Current Month vs. Prior Month vs. Last Year (YoY) vs. 3-Yr Avg
December November December December
2011 2011 2010 '08-'10
510 578 575 947
-11.8% -11.3% -46.1%
Year to Date vs.Prior Year
December December
2011 2010
7,676 8,927
-14.0%
The increase in housing permits this month (520 vs 505 in Nov '11) reflects a more favorable projectory than recent months. Nationally, house permits were at the lowest level since data began being collected. Alabama totals in 2011 were consistent with its national counterpart. Confidence surveys of consumers and builders alike still detect elevated levels of uncertainty that underscored the fragile housing market at the close of 2011. Nationally, housing starts in 2011 were the lowest in the history of data collection.
Commentary
December new home sales in the state's 5 metro markets(70% of market) results were positive: up 29.5% from November 2011 and up 9.5% from December 2010. More importantly, statewide new construction inventory has declined by approximately 25% from December 2010 and by 7.4% from last month. According to McGraw-Hill, residential contract values increased by 19.4% to $222.3 million in December '11 compared to December '10 values. This figure is consistent with December 2002 @ $220.1 million (December's 10-year average = $269.5 million or 17.5% higher than December '11). According to the Alabama Dept. of Industrial Relations, statewide related construction employment was up 1.7% (1,100 jobs) to 64,300 from last month but is down by 5.6% or 3,800 workers from December '10. Nationally, construction firms saw increased business activity in their futures, with 2011 the first year since 2006 when total hires exceeded total job separations for the industry. New home construction, builder sentiment, and existing home sales all improved in the second half of 2011. Crucially, the job market picked up speed, and the unemployment rate edged down. Still, these developments were not enough to keep the single-family segment from having its worst year on record. The record-low construction numbers were a response to record-low demand for new homes while a slowdown in population growth was an additional drag on housing. Home prices fell again in 2011, but their direction at year-end was unclear. Favorable weather boosted the housing numbers at the end of 2011. NAHB’s Remodeling Market Index achieved a level of 46.6 in the fourth quarter of 2011, the highest mark since 2006.
Local 8 out of the 27 associations (30% - up from 1% in November) reported building permit gains from the prior month (Nov'11) while 5 associations (7% up from 1% in November) experienced gains in housing starts. Seven associations (26% - down from 30% last month) experienced an increase from their December'10 monthly housing starts including Greater Montgomery (50%), Tuscaloosa (47%), Lee County (36%), Greater Calhoun (25%), Greater Gadsden (33%), Greater Birmingham (25%) , and Enterprise (20%). For 2011, only 5 or 18% of associations experienced year-over-year growth in housing starts: Cullman County (87%), South Alabama (61%), Tallapoosa County (40%), Walker County (9%), and Baldwin County (4%). 2011 Year-End National Home Statistics (% change from 2010 at the end of year) New Home: Sales: down 6.2%; Inventory: down 17% and Months of Supply: down 11.6% (6.1 from 6.9) Existing Home: Sales: up 1.7%; Inventory: down 8% and Months of Supply: down 11.7% (8.3 from 9.4) © 2012 ACRE All Rights Reserved NOTE: This representation is based in whole or in part on data supplied by the reporting municipalities/boards/associations. ACRE d oes not guarantee and is in no way responsible for its accuracy.
New Construction Report - December 2011 NEW SINGLE FAMILY BUILDING PERMIT STATISTIC TOTALS Current Month
Last Month
December-11
November-11
% Difference
Last Year
% Difference
December-10
YTD
YTD
December-11
December-10
% Difference
Alabama State Total South Total*
520
505
3.0%
595
-12.6%
7,678
8,800
-12.7%
16,300
16,100
1.2%
14,700
10.9%
220,900
229,000
-3.5%
United States Total*
30,800
34,100
-9.7%
29,600
4.1%
413,600
445,800
-7.2%
YTD
YTD
*Source Data: U.S. Census Bureau
NEW SINGLE FAMILY BUILDING PERMITS BY AREA Association
Current Month
Last Month
% Difference
Last Year
December-11
November-11
Athens/Limestone **
8
12
-33.3%
22
Baldwin County **
43
51
-15.7%
Blount County
0
0
N/A
Chilton County
1
0
N/A
% Difference
December-10
% Difference
December-11
December-10
-63.6%
191
299
67
-35.8%
717
674
6.4%
2
-100.0%
4
10
-60.0%
1
0.0%
8
14
-42.9% 62.5%
-36.1%
Cullman County
0
0
N/A
2
-100.0%
13
8
Dekalb County **
2
1
100.0%
0
N/A
25
24
4.2%
Enterprise
8
11
-27.3%
5
60.0%
87
107
-18.7%
Greater Birmingham **
76
78
-2.6%
82
-7.3%
1,359
1,359
0.0%
Greater Calhoun County **
0
0
N/A
3
-100.0%
66
135
-51.1%
Greater Gadsden **
7
9
-22.2%
1
600.0%
76
106
-28.3%
Greater Montgomery
39
37
5.4%
27
44.4%
370
399
-7.3%
Greater Morgan County **
15
3
400.0%
6
150.0%
105
150
-30.0%
Dothan & Wiregrass Area
2
9
-77.8%
13
-84.6%
177
259
-31.6% -23.2%
Metropolitan Mobile**
44
36
22.2%
64
-31.3%
675
879
Tuscaloosa**
41
42
-2.4%
24
70.8%
607
611
-0.7%
Huntsville/Madison **
129
129
0.0%
161
-19.9%
1,832
2,152
-14.9%
Jackson County **
0
1
-100.0%
0
N/A
17
17
0.0%
Lee County
47
36
30.6%
30
56.7%
532
605
-12.1%
Macon County
0
0
N/A
0
N/A
2
7
-71.4%
Marshall County **
17
11
54.5%
16
6.3%
204
239
-14.6%
Muscle Shoals **
4
4
0.0%
8
-50.0%
100
151
-33.8%
Northwest Alabama
1
0
N/A
3
-66.7%
16
19
-15.8%
Phenix City
21
21
0.0%
22
-4.5%
227
288
-21.2%
South Alabama
1
3
-66.7%
2
-50.0%
30
22
36.4%
St. Clair County **
11
10
10.0%
31
-64.5%
213
243
-12.3%
Tallapoosa County
3
1
200.0%
1
200.0%
16
10
60.0%
Walker County
0
0
N/A
2
-100.0%
9
13
-30.8%
**Source Partner: www.marketgraphicsalabama.com Process: Every month data is collected from municipalities all around the state, in particular the municipalities’ building/inspections department. We also limited our data collection to municipalities with a population of 2500 or greater. By gathering the number of single family new construction permits that are issued each month it allows observation of growth or decline in the new housing market. *NOTE: Permit counts may be subject to slight change month over month due to updated permit reports from certain municpalities in previous months
©ACRE 2012
www.acre.cba.ua.edu
Page 2 of 6
PROJECTED HOUSING STARTS TOTALS Current Month
Last Month
December-11
November-11
% Difference
Last Year
% Difference
December-10
YTD
YTD
December-11
December-10
% Difference
510
578
-11.8%
575
-11.3%
7,676
8,927
-14.0%
South Total
17,095
18,412
-7.2%
15,355
11.3%
202,627
217,000
-6.6%
United States Total
33,083
35,873
-7.8%
34,034
-2.8%
382,466
418,307
-8.6%
Alabama State Total
PROJECTED HOUSING STARTS BY LOCAL MARKETS Association
Current Month
Last Month
December-11
November-11
% Difference
Last Year
% Difference
December-10
YTD
YTD
December-11
December-10
% Difference
Athens/Limestone
12
18
-33.3%
26
-53.8%
203
312
Baldwin County
49
55
-10.9%
54
-9.3%
718
694
-34.9% 3.5%
Blount County
0
0
N/A
1
-100.0%
5
10
-50.0%
Chilton County
0
0
N/A
1
-100.0%
8
15
-46.7%
Cullman County
0
1
-100.0%
1
-100.0%
15
8
87.5%
Dekalb County
1
1
0.0%
1
0.0%
12
25
-52.0% -24.8%
Enterprise
6
9
-33.3%
5
20.0%
85
113
Greater Birmingham
86
92
-6.5%
69
24.6%
1,341
1,394
-3.8%
Greater Calhoun County
-1
1
-200.0%
3
-133.3%
41
139
-70.5%
Greater Gadsden
8
9
-11.1%
6
33.3%
75
115
-34.8%
Greater Montgomery
36
33
9.1%
24
50.0%
356
404
-11.9%
Greater Morgan County
6
7
-14.3%
11
-45.5%
105
146
-28.1%
Dothan & Wiregrass Area
8
14
-42.9%
16
-50.0%
185
260
-28.8%
Metropolitan Mobile
44
49
-10.2%
68
-35.3%
695
903
-23.0%
Tuscaloosa
44
55
-20.0%
30
46.7%
587
619
-5.2%
Huntsville/Madison
114
136
-16.2%
153
-25.5%
1,881
2,151
-12.6%
Jackson County
1
1
0.0%
1
0.0%
17
21
-19.0%
Lee County
42
41
2.4%
31
35.5%
516
630
-18.1%
Macon County
0
0
N/A
0
N/A
2
6
-66.7%
Marshall County
13
11
18.2%
16
-18.8%
202
242
-16.5%
Muscle Shoals
5
8
-37.5%
9
-44.4%
102
146
-30.1%
Northwest Alabama
0
1
-100.0%
2
-100.0%
17
18
-5.6%
Phenix City
21
20
5.0%
21
0.0%
229
286
-19.9%
South Alabama
2
2
0.0%
2
0.0%
29
18
61.1%
St. Clair County
11
13
-15.4%
21
-47.6%
224
231
-3.0%
Tallapoosa County
2
1
100.0%
1
100.0%
14
10
40.0%
Walker County
0
0
N/A
2
-100.0%
12
11
9.1%
*Starts data not available due to that is it a calculated statistic from previous months data that is not available.
Some variance in totals due to decimal extension.
© 2010 ACRE All Rights Reserved NOTE : This representation is based in whole or in part on data supplied by the local municipality's building department. Alabama Center for Real Estate - University of Alabama does not guarantee and is in no way responsible for its accuracy. Defintion: Housing starts are a derived value using a percentage distribution based on the particular region in the United States multiplied times the number of building permits issued in that particular month. Calculation: The distribution for the South Region is as follows: Same Month as Authorization = 44%; 1 Month Prior = 37%; 2 Months Prior = 9%; 3 Months Prior = 3%; 4 Months or more = 7%
©ACRE 2012
www.acre.cba.ua.edu
Page 3 of 6
Metro Market New Construction Report* (The 5 Metro Alabama Markets Represent
+/- 70% of
the State's New Construction Transactions)
Metro Markets Combined
Total New Construction Sold Number of Units on Market Median Selling Price Average Selling Price Average Days on Market
Current Month
Last Month
December-11
November-11
% Difference
Last Year
% Difference
December-10
% Difference
YTD
YTD
December-11
December-10
334
258
29.5%
305
1,194
1,675
-28.7%
2,076
-42.5% 19.9%
$
199,807
$
190,210
$
218,581
$
$
215,806
$
201,959
$
230,605
$
215,004
106
130
9.5%
6.9%
$
180,037
7.3%
$
208,365
10.7%
123
-13.8%
-18.1%
3,478
3,992
N/A
N/A
-12.9% N/A 5.0%
209,872
4.1%
126
130
-2.9%
YTD
YTD
December-11
December-10
Total New Construction Sold % Difference
% Difference
Last Month
December-11
November-11
103
82
25.6%
96
7.3%
1,103
1,504
136
94
44.7%
141
-3.5%
1,333
1,398
-4.6%
34
29
17.2%
28
21.4%
391
490
-20.2%
53
41
29.3%
26
103.8%
466
373
24.9%
8
12
-33.3%
14
-42.9%
185
227
-18.5%
YTD
YTD
December-11
December-10
Birmingham Huntsville Mobile Montgomery Tuscaloosa
Last Year
% Difference
Current Month
December-10
-26.7%
Number of Units on Market Current Month
Last Month
December-11
November-11
Birmingham Huntsville Mobile Montgomery Tuscaloosa
% Difference
Last Year
% Difference
I/S
December-10
Ratio
742
763
-2.8%
944
-21.4%
7.2
0
441
-100.0%
525
-100.0%
0.0
163
163
0.0%
211
-22.7%
4.8
181
192
-5.7%
215
-15.8%
3.4
108
116
-6.9%
181
-40.3%
13.5
Median Selling Price
Birmingham Huntsville Mobile Montgomery Tuscaloosa
% Difference
Last Year
% Difference
% Difference
Current Month
Last Month
December-11
November-11
$
222,440
$
209,047
6.4%
$
184,583
20.5%
$
195,650
$
192,405
$
218,320
$
213,900
2.1%
$
212,404
2.8%
$
221,189
$
220,510
0.3%
$
184,870
$
168,900
9.5%
$
158,700
16.5%
$
164,351
$
168,836
-2.7%
$
242,000
$
225,000
7.6%
$
194,450
24.5%
$
233,680
$
206,471
13.2%
$
211,402
$
192,950
9.6%
$
150,050
40.9%
$
184,166
$
162,829
13.1%
December-10
1.7%
Average Selling Price
Birmingham Huntsville Mobile Montgomery Tuscaloosa
% Difference
Current Month
Last Month
December-11
November-11
Last Year
$
254,356
$
254,356
0.0%
$
211,715
$
244,202
$
229,491
6.4%
$
238,371
$
191,543
$
178,366
7.4%
$
195,878
% Difference
% Difference
YTD
YTD
December-11
December-10
20.1%
$
227,058
$
223,285
2.4%
$
239,787
$
237,474
1.0%
-2.2%
$
179,844
$
184,298
-2.4%
December-10
1.7%
$
230,358
$
222,181
3.7%
$
215,856
6.7%
$
237,041
$
217,157
9.2%
$
232,567
$
190,626
22.0%
$
180,007
29.2%
$
209,174
$
187,145
11.8%
Average Days on Market
Birmingham Huntsville Mobile Montgomery Tuscaloosa
% Difference
Last Year
% Difference
Current Month
Last Month
December-11
November-11
Unavailable
Unavailable
N/A
Unavailable
73
51
43.1%
77
196
148
32.4%
186
68
63
7.9%
96
87
256
-66.0%
133
-34.6%
% Difference
YTD
YTD
December-11
December-10
N/A
Unavailable
Unavailable
N/A
-5.2%
83
95
-13.0%
5.4%
191
154
23.7%
-29.2%
93
94
-1.0%
139
177
-21.7%
December-10
* Source: MLS
©ACRE 2012
www.acre.cba.ua.edu
Page 4 of 6
Alabama New Single Family Building Permits Issued 1200 1100
1000 900 800 700 600
500 400
US Total New Single Family Building Permits Issued 55,000
50,000 45,000 40,000
35,000 30,000
25,000 20,000 15,000
Year-Over-Year Change for Building Permits Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sept
October
Nov
Dec
20% 10% 0% -10%
-20% -30% -40% -50%
©ACRE 2012
Alabama
U.S.
www.acre.cba.ua.edu
Page 5 of 6
Residential Construction Building Contracts in Dollars Alabama Residential Construction - December 2011 Comparisons $400,000,000
$350,000,000 $300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000
$2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2009
2010
2011
Alabama Metro Markets December 2011 170,000,000
120,000,000
70,000,000
20,000,000
2001
2002
2003
2004
2005
2006
2007
2008
(30,000,000) Birmingham
Huntsville
Mobile
Montgomery
Tuscaloosa
Auburn/ Columbus, GA
Alabama Midsize Markets December 2011 8,000,000
7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000
1,000,000 2001
2002
2003 Anniston
2004 Decatur
2005
2006 Dothan
2007 Florence
2008
2009
2010
2011
Gadsden
Source: McGraw Hill Construction - Residential Markets, Metro Markets, and Midsize Markets
©ACRE 2012
www.acre.cba.ua.edu
Page 6 of 6
