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 April 2023. Read on to learn more about the real estate market in South Palm Beach County:
According to the National Association of REALTORS® (NAR), the number of homes sold in the US decreased by 2.4% compared to the previous month. This is a reversal from the 14.5% increase in sales that occurred in February. The decrease in sales is due to changes in mortgage interest rates, which have caused buyers to be more hesitant. Pending sales, which are sales that are under contract but not yet closed, also dropped by 5.2% compared to the previous month.
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