Existing Vero Beach 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 Vero Beach home sales, Vero Beach 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 Vero Beach home sales news and other news that affects the Vero Beach area real estate market, check out the other Vero Beach Real Estate News under Vero Beach Real Estate Categories to your right.