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Hobe Sound Absorption Rate Hits 6 Month High

Absorption rate in Hobe Sound jumps by 19%
Everywhere one turns there is good news about the real estate market; locally, statewide and nationally. Earlier this week the National Association of Realtors  reported that existing home sales rose in every region but the west, which they point out was down primarily due to what they call “tight inventory”. Add to increasing national sales good news the prices are up good news with nationwide median price up 9.4% from the same period in 2011. July marked the fifth straight month of increasing prices and the largest monthly gain in over 6 1/2 years.
 
Minutes after that report the wires lit up with news from the Florida Realtors® who reported that statewide sales and median prices rose in July while inventory levels continued to shrink. Interest rates have jumped a bit but are still at funny money levels. Even tighter lending standards have not had an effect on slowing down what has been a robust recovery.
 
 
But locally sales have slowed for the first time in almost 6 months and there is no reason to believe that demand has waned. In fact there are buyers everywhere and any new ... more

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