Existing Gulf Shores home sales climbed to a 3 and a half year high in April, and all indications are they will continue to climb in May and June. However, rising interest rates are the concern now.
Along with Gulf Shores home sales, Gulf Shores home prices continued to climb with the S&P/Case-Shiller monthly home price indices for March (which actually covers the three month average of January, February and March prices) showing double-digit annual increases over the same period a year ago.
Economists, however, are still cautiously bullish for two main reasons. First is the fact that near-record low mortgage rates have made home buying more affordable. The second is all the pent-up demand in the housing market after years of sluggish sales.
For the latest on Gulf Shores home sales news and other news that affects the Gulf Shores area real estate market, check out the other Gulf Shores Real Estate News under Gulf Shores Real Estate Categories to your right.