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South Florida Real Estate Market Rallies

 

To those who thought home prices would drop further, the latest statistics show a 2.6 percent increase in Palm Beach housing prices from nearly a year ago.

Over the last half year, all of the following south Florida measurements are up: employment, house price appreciation, and single-family housing permit growth.

Clearly, there are still great deals to be had when looking to buy a condo in West Palm Beach or homes for sale in Palm Beach Gardens. The question is, how long will the prices remain this low? With prices on a gradual rebound, no one can be certain.

One economic driver is the improvement of Palm Beach County's unemployment rate. It is at its lowest since 2009. There is much more progress needed, but signs are pointing to the beginnings of a recovery. Naturally, when more people are secure in their employment, they feel more confident in their ability to buy a home for sale, thus increasing demand and raising prices.

Single-family home sales in Palm Beach County areas such as West Palm Beach, Jupiter, and Palm Beach Gardens have experienced a 24 percent increase over the previous year. That said, favorable deals helped fuel the increase with median sale prices below $200,000. How much longer prices stay below that threshold is speculative as home prices surprised some by rising this year instead of dropping.

If you have access to capital, this may be your ideal opportunity to invest in south Florida real estate while prices are still low but look to be on the upswing.

Beautiful homes for sale are available now in prime Palm Beach Gardens areas such as PGA National, Old Palm, and Mirasol. Jupiter real estate for sale includes Abacoa, Loxahatchee Club, and The Bears Club. Wellington, Florida also boasts some of the best south Florida property with homes for sale in Palm Beach Polo, Aero Club, and Equestrian Club.

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Scuttina Real Estate Group
524 Datura St, Suite 101
West Palm Beach, FL 33401 | USA
Phone: 561.296.5326
scuttina@gmail.com


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