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Alabama Real Estate Fostering Optimism

By Associated Press

Birmingham, AL – New figures for residential building contracts in the Birmingham area are boosting the optimism of real estate officials.

A report released Monday says the value of residential construction contracts in the Birmingham-Hoover area rose 6 percent in March. It's the third straight monthly increase.

Bart Fletcher, executive officer of the Greater Birmingham Association of Home Builders, says another positive sign is a report of increased foor traffic at the recent Parade of Homes event.

McGraw-Hill Construction says area residential construction contracts valued at $47.57 million were signed in March, up from $44.85 million a year earlier.

Bobby Smith Jr. of Four Star Homes, president of the Birmingham home builders group, says Alabama's market is in better shape than in areas where there was a huge run-up in prices before the downturn.

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