Foreclosures Behind the Drop in Prices
Distressed sales and foreclosures are dragging prices down in these areas, with the exception of Aurburn. In Mobile, Huntsville, Tuscaloosa and Dothan home prices would have increased if these short sales and foreclosures would have been excluded from the analysis.
The Auburn-Opelika market was the only market that prices would have still fallen even without the effect of the distressed property sales. This perplexing state is a question mark as to the reason. In…