Gulf Coast housing market recovering

MOBILE, Ala. - According to builders and realtors the housing market in Mobile is on the rebound. They say incentives and interest rates are fueling a recovery.

Realtor Kym Trest said things are looking up and the housing market continues to pick up steam. " From January sales have picked up tremendously, every month. Days on the market are fewer. Sales are higher" she said.

Federal Tax Credit Fuels Recovery

Low interest rates have helped, but the big kick is the eight thousand dollar first time home buyer tax credit. " It's going to depend on their income and the house they buy. Most first time home buyers do qualify for the full 8000 dollar credit." Trest said.

NEW HOMES ALSO SELLING

" We've had great success recently. We're excited about the market."

Mobile Homebuilder Association President, Lindsay Walker, said the strongest sales are in a range of $120 to $160 thousand. Builders are trying to stay within that range because high end properties are lagging behind and staying on the market longer.

Walker said as the lower end of the market rebounds the higher end will follow. If you looking around the country, the Gulf Coast is ahead of the curve.

" In Mobile I think the recovery has begun and I think it's begun a little more rapidly than other parts of the country." He said.

If you want to know how to take advantage of that eight thousand dollar tax credit go to: http://www.federalhousingtaxcredit.com.