By: Dorothy Sherman
LEE COUNTY, AL - Residential sales in Lee County might have dropped, but that doesn't
mean they'll continue to fall. According to the Alabama Center for Real Estate, last month 122 units sold in :Lee County. That's a drop of
nearly 5 percent compared to last August. This year children started
back school earlier, experts said that's one reason for the drop.
"People that were looking for homes always want to settle their kids into homes before school starts. So, all of the sudden we saw a major drop in regards to the residential sales in that aspect," Sylvia Paul, President of the Lee County Association of Realtors, said.
Paul said another reason for the decrease is rain. Because it rained so much in August builders and contractors had to push closings about a month. So, many build times went from around 6 months to 7 or 8 months. But where there's rain, there's sunshine. Paul said she foresees residential sales increasing.
"I think that we'll start seeing things pick up in the month of September and October, where those house have to be postponed we'll go ahead and do that, and actually close. We'll see that kind of relatively even out," Paul said.
Although there's been a decrease of sales in August. Year to date, shows sales are actually up 7 percent slightly lower than statewide sales growth.
"The other thing that we really see is the fact that even though the interest rates are still going up, because homes are still being really affordable we still have houses that are being constructed we still see houses that are going under contract," Paul said.
Despite sales declining in August, Paul said she still believes it's a good time to sale.
"Inventory is still low. We still have people that are out there that
are trying to relocate or try to do things to try to sell their homes.
So, we still have houses that are coming on the market. Those that are
priced very well are selling," Paul said.
Paul said she's seeing things already starting to pick back up this month, as the rain has stopped making residential sales take a turn upwards.
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