Key Highlights:
- Slowdown in 2024 apartment deliveries creating demand pressure.
- Class A properties show strong performance despite new supply.
- Investment activity rebounds, signaling investor confidence.
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Additional Insights:
With nearly 1.2 million residents in the MSA, the Birmingham area is the largest population center in Alabama and a major economic center for both the state and the region. The city is one of the primary financial services hubs in the South. Regions Bank is headquartered in the market, and several national financial institutions have a large presence in the area, including PNC Bank, Wells Fargo, and Truist Bank. Birmingham also has a large education and healthcare sector stemming from the University of Alabama at Birmingham (UAB) system. More recently, Birmingham has grown its manufacturing sector.
