August 2024 Market Statistics
Posted by Gloria Singer on
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 August 2024. Read on to learn more about the real estate market in South Palm Beach County:
National Trends
U.S. existing-home sales increased for the first time in 5 months, as lower mortgage rates and rising supply helped boost market activity. According to the National Association of REALTORS® (NAR), sales of previously owned homes rose 1.3% month-over-month to a seasonally adjusted annual rate of 3.95 million units, exceeding economists’ expectations and ending the downward trend of recent months.
Nationally, total housing inventory edged up 0.8% from the previous month to 1.33…
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