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November Jupiter Area Home Sales Disappointing

New 10 month low for Jupiter area home sales
Things were looking up in the local real estate market, and they still are in all honesty, but one has to be a bit surprised, if not downright disappointed.  The final single family statistics in Paradise Sharks' study of November Jupiter area home sales is not real good news. But the snowbirds have returned in droves and everything does looks great moving ahead. Higher inventory and pent up demand should be the story of the upcoming months. But this poor showing in Jupiter area home sales has us wondering.

The monthly total of Jupiter area home sales fell almost 35% when compared to last months' total, a big drop. We have not had such a poor performance since February. The monthly total was also 13% lower than we were last year at this same time. Compared to the 12 month running average of Jupiter area home sales we are down 27%. It was not an encouraging month no matter which way you want to look at the numbers.
What does this mean? Inventory has grown, last week interest rates dipped down below 4%, the season was starting off with a bang and good traffic. ... more

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