South Florida Home Prices Cooling as Summer Heats Up
Posted by Gloria Singer on
While much of South Florida has been a red hot seller’s market over the first half of 2017, home price gains are starting to slow a bit according to the latest S&P CoreLogic Case-Shiller Index.
In both January and February, home prices in Palm Beach, Broward, and Miami-Dade Counties jumped 6.7% compared to the first two months in 2016, and in March, the year-over-year increase dropped slightly, but still reached 6%.
Now, newly released figures posted another slight drop compared to the first three months of 2017, registering just a 5.4% increase when looking at the numbers from April 2016 and April 2017.
In Boca Raton and much of the surrounding South Florida area, strong demand and limited inventory are undoubtedly the two primary driving forces…
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Despite the popular belief that there are better times of the year to buy a new home or condo than others, each season has different pros and cons that every Boca home buyer should consider before beginning a search. In general, the spring season is usually the busiest time of the year for the housing market, not just here in the Boca Raton area, but also all over the country. And while buyers may be presented with more inventory from early March to late May, they may also be facing stronger competition from other buyers as well, which could drive up the price or how much you eventually pay.
While every individual home or condo buyer has his or her own wish list of demands, direct beach access and sweeping views of the Atlantic Ocean are usually a top priority here in beautiful Boca Raton, Florida, which shouldn't come as a major surprise.