Newly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for January. Read on to learn more about the real estate market in South Palm Beach County:
Home Sales begin to slow
The pace of home sales began to slow in the last quarter of 2018, despite a strong economy, high employment, and steady wage growth. Although prices have continued to rise, the rate of the increase is slowing. Blame for the slowdown was given to a combination of both high prices and steady interest rate hikes by the Federal Reserve. This month, the Fed responded by not increasing rates further for the time being.
Affordability continues to be an issue