Alabama’s housing market showed mixed signals in August, according to the latest Alabama Economic and Real Estate Report released Friday by the Alabama Association of REALTORS®. While sales numbers were down, buyers are finding more affordable opportunities thanks to recent mortgage rate cuts and softening home prices. Statewide home sales dropped 1.7% from July and were 5.6% lower than August 2024. The median sales price fell to $222,811, down 2.6% month-over-month and 5.4% year-over-year.

Even with fewer sales, the combined dollar volume of homes sold in August reached $1.69 billion. That figure was 6.3% higher than last year, though 3.4% below July’s total.

Alabama REALTORS® economist Evan Moore pointed to improving affordability as a key takeaway.

“When you combine recent declines i

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