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 May 2023.  Read on to learn more about the real estate market in South Palm Beach County and beyond:
According to the National Association of REALTORS® (NAR), existing-home sales have experienced a slight dip for the second month in a row, falling 3.4% nationwide. This decrease can be attributed to higher interest rates, which are impacting buyer affordability. Compared to the same period last year, sales are down a significant 23%, while contract signings have dropped by 20.3%.
As the market cools down, buyers in certain regions have found some relief in declining sales prices, which have seen a…

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