Tornado's impact on Tuscaloosa real estate described in UA study

September 1, 2011

A comprehensive real estate report on the short-term impact and an analysis of the April 27 tornado that ravaged the Tuscaloosa area is now available from the Alabama Center for Real Estate at The University of Alabama’s Culverhouse College of Commerce.

The report includes an assessment of the residential market following the storm and an analysis of the impact on the residential housing supply. For example, the report indicates 5,144 total housing units, or 12.6 percent of the city’s housing inventory, were impacted by the storm and 1,240 houses were destroyed, at an average replacement cost estimated at $76,444.

“In a broad sense, the city’s real estate market has been very resilient during the study period, which we defined as the second quarter of the year,” said Grayson Glaze, executive director of UA’s Alabama Center for . “During the same period last year, residential sales within the impact area were 32 percent of total sales and residential sales within the impacted area this year only fell to 25 percent of total sales.”

The report also provides a detailed examination of residential market conditions in the Tuscaloosa market that includes sales, average and median sales prices, days on market, total units for sale, building permits and foreclosure rates.

The report is available at:

Explore further: UCLA Anderson Forecast Predicts Soft but Turbulent Landing for National Economy

Related Stories

Study: New negative trend in Phoenix housing market

November 30, 2010

It’s official: The Phoenix housing market appears to be experiencing a new downward trend. A new report from the W. P. Carey School of Business at ASU confirms a year-over-year decrease in home prices for the third month ...

Phoenix-area foreclosure rate drops slightly

April 20, 2011

A little bit of good news is coming to the Phoenix-area housing market. Foreclosures accounted for just under 38 percent of the existing-home transactions in the area in March. A new report from the W. P. Carey School of ...

Recommended for you

Chimpanzees shed light on origins of human walking

October 6, 2015

A research team led by Stony Brook University investigating human and chimpanzee locomotion have uncovered unexpected similarities in the way the two species use their upper body during two-legged walking. The results, reported ...

How much for that Nobel prize in the window?

October 3, 2015

No need to make peace in the Middle East, resolve one of science's great mysteries or pen a masterpiece: the easiest way to get yourself a Nobel prize may be to buy one.

The dark side of Nobel prizewinning research

October 4, 2015

Think of the Nobel prizes and you think of groundbreaking research bettering mankind, but the awards have also honoured some quite unhumanitarian inventions such as chemical weapons, DDT and lobotomies.

Who you gonna trust? How power affects our faith in others

October 6, 2015

One of the ongoing themes of the current presidential campaign is that Americans are becoming increasingly distrustful of those who walk the corridors of power – Exhibit A being the Republican presidential primary, in which ...


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.