REAL ESTATE SPOTLIGHT

Closings down 14% but market still healthy, observers say

By JON ANDERSON

Rising interest rates and inflation caused a slowdown in the housing market in 2022, but Realtors and home builders say the industry is still healthy.

The number of home closings along the U.S. 280 corridor in north Shelby County fell 14%, from 1,748 home closings in 2021 to 1,504 in 2022, according to data from the Greater Alabama Multiple Listing Service. That included a decline in sales of existing homes from 1,476 to 1,267 and a decline in new home sales from 272 to 237.

The 35242 zip code — which includes Inverness, Greystone, Meadow Brook, Oak Mountain, Eagle Point, Brook Highland, Highland Lakes, Mt Laurel, Shoal Creek and Liberty Park — saw existing home sales drop from 1,103 to 973 and new home sales fall from 123 to 82.

The 35043 zip code — which includes Chelsea and surrounding areas — saw existing home sales drop from 522 to 449. However, new home sales in 35043 were slightly up from 149 to 155 in 2022.

See REAL ESTATE | pages A28-30

Surveillance video captures a robbery suspect entering the Walgreens pharmacy at 1801 Montgomery Highway on March 23, 2022. Photo courtesy of Hoover Police Department.

Robberies hit more than 20-year low in Hoover

By JON ANDERSON

The city of Hoover had only 15 robberies reported in 2022 — the lowest amount in more than two decades, records show.

The number of robberies reported fell 38% from 24 in 2021 to 15 in 2022. Six of those were robberies of individuals, six were robberies of businesses, and three were shoplifting cases that turned into third-degree robberies when force was used, Hoover police Lt. Daniel Lowe said.

One of the robberies of an individual was determined to be unfounded, and another was downgraded to a theft when it was prosecuted, Lowe said.

Over the previous 21 years, the average number of robberies in Hoover per year was 56, and the number climbed as high as 105 in 2004, records show.

Police are extremely pleased to see the drop, Chief Nick Derzis said. That’s especially true given that Hoover’s most recent population estimate was about 93,000 residents in July 2021.

“That’s something I think all of us at the Police Department are very proud of. We start each year hoping we can keep our community safe. We work very hard to do it, and it’s kind of extraordinary when you see some of the things we were able to accomplish this past year,” Derzis said.

See CRIME STATS | page A26