Could it be that Gulf Shores condo sales are driven by people taking Gulf Coast vacations and discovering how darned wonderful life can be on the beach, and that there was a dip plunge in visitors and vacationers the past few months? Fewer potential buyers getting a taste of paradise might lead to fewer sales.
You might think so (and I still do) but that's not the reason gulf coast real estate professionals give...
Home mortgage interest rates are at their highest mark in 19 months, and Orange Beach and Gulf Shores condo sales in are at a two-year low.
When hurricane Ivan ripped up the Alabama Gulf Coast, many feared condo sales at the beach would plummet, but the storm had just the opposite effect. Prices soared causing even more new construction up and down the coast. Six months after Hurricane Katrina, officials say the market is slower than ever, leaving many asking why.