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Palm Beach Condo Sales Beat up on Single Family Numbers
Look for continued volatilty in the real estate market in the months ahead
Paradise Sharks wants our clients to make well informed, educated decisions and with a real estate market that has been fairly volatile this is important. Timing is everything. If you bought a median priced single family home in the Northern Palm Beaches last January you would have paid $354,750. If you waited until July you would have paid $400,000 but by October you would have been back down to $365,000. Yes indeed timing is very important. This is our very last article of the calendar year 2014 and we are looking forward to the New Year ahead.
Our very first article of the year was way back on January 19th and here we are 189 articles later with our very last market update of the year. Way back in January our first article was about what interest rates and Steely Dan had in common. On that day interest rates on a conforming 30 year fixed mortgage sat at 4.31% which is just about 8% higher than they are today at 3.99%. Falling interest rates tells us the economy wasn’t necessarily hitting on all cylinders ... more
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