Found 3 blog entries tagged as Housing Market.

Experts are predicting that current housing boom will most likely flatten this year as interest rates continue to rise. Please note the word “flatten.”  It is anticipated that prices will not go down, demand for homes is constant in Palm Beach County. In South Florida, with our warm climate, our beautiful coastline, and tax benefits, more and more people are moving here every day. People have realized they can work from home and are no longer bound to a particular city, so why not live somewhere beautiful.

A housing bubble, or speculative bubble, is defined by a steep rise in housing prices that is not supported by common or logical economic factors or fundamentals. Many factors are contributing to the current housing appreciation throughout…

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The housing experts say the market is “normalizing.” But what does that mean for the Palm Beaches? Will home prices in Palm Beach County and rents finally come down? Will more homes go up for sale? And what does the year ahead have in store for the real estate market?

“The nation’s housing market, after a wild surge that sent home prices up over 30 percent in some cities in 2021, will be less intense next year”, according to Lawrence Yun, chief economist of the National Association of Realtors (NAR).

The NAR 2022 housing forecast anticipates the market will continue slowing down from the frenzy seen in the spring when prices shot up to new heights. However, prices will stay high, inventory will remain tight, and mortgage rates will rise. Other…

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Luxury real estate in Palm Beach County saw a double-digit increase in home sales last month compared to July 2017. The number of home sales above $600,000 rose 26.6% over last year and homes in the $1 million+ price range saw a whopping 30.6% increase. It's the first time the county has seen such a spike.

New luxury construction is being developed all over the Palm Beaches which helped drive sales, as many people would rather purchase a new property opposed to possibly having to put up thousands in upgrades on older home. Reports have also shown a notable increase in people from the Northeast relocating to the area for job opportunity, higher pay, recreation and less tax. 

The month of July was also a good indicator of future closings with…

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