January 2014 Market Report For Palm Beach County Florida
Buyers, meanwhile, are starting to find more for-sale signs in front yards. Palm Beach County had 7,218 homes on the market at the end of last month, up 7 percent from a year earlier. A dearth of homes for sale last year led to bidding wars and steep price increases that gave sellers a decided edge on buyers. More homes for sale will help restore balance to the market, slowing the sales pace but keeping prices from soaring out of reach for first-time buyers and young families, analysts say.
The rise in listings is due in large part to homeowners seeing their values jump. Many “underwater” borrowers who once owed more than their homes were worth now have enough equity to sell. Markets across Florida and much of the country also are seeing more sellers test the market. Stan Humphries, chief economist for real estate website Zillow.com, said in a statement this is “another step on the road back to normal and will help offset the impact of rising mortgage rates and more expensive homes for buyers.”
(click graph for larger view)
(data from www.floridarealtors.org/)
The data above represent Palm Beach County for January 2014.
Would you like to know what is happening in your neighborhood?
Would you like to know the value of your home?
Do you need help deciding whether to sell or not or would you like to know if now is the right time to buy?
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To search for propeties in Palm Beach County visit this link: www.forsalehomesearch.com/search/
Just email me and let me know! MarkL@KW.com
Just email me and let me know! MarkL@KW.com
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