The Birmingham real estate market has been humming along nicely over the past year, and has done an admirable job of recovering after the doldrums of the bear market and recession.
Highlighting the current state of real estate in not just Birmingham but the state of Alabama as a whole will be the purpose of ACREcon 2015, to be held on January 30th.
ACREcon, which stands for Alabama Commercial Real Estate Conference & Expo, is heading into its 15th year. This year, the convention will take a look at several emerging trends in the industry in the state of Alabama, starting with the morning keynote address delivered by Anita Kramer, the vice president of the Urban Land Institute Center for Capital Markets.
Some of the emerging trends Kramer will discuss will include the role of Millennials in today’s housing market; the influx of foreign cash into domestic single-family markets; the rise of retail and urban developments in city centers, including downtown multifamily projects; and how Birmingham and other metro areas have withstood some of the more negative trends to have some of the best months in single-family sales since the market started to fall in 2008.
ACREcon 2015 will also cover how economic development in the state has helped drive real estate progress. Several major manufacturers announced projects in Alabama, from Airbus to Remington and Polaris, and as usual, Birmingham continues to further its reputation as a destination for medical and tech companies in the startup phase.
Birmingham real estate benefits from all of these emerging trends, especially when it comes to job creation and quality of life. As more jobs are created, more demand is created for single-family homes – particularly rentals – and an increasing standard of living only helps to raise home prices.
It’ll be interesting to see what insights will come out of ACREcon 2015.