Palm Beach Housing Inventory Drops Compared to Last Year
The answer is ‘it sure looks that way.’
New housing stats are up for the first time since the boom ended.
When builders start to build, they believe buyer demand will be strong once the building is complete. At the rate things are improving, that seems to be a safe bet.
Sales continue to exceed the number of new listings
This means demand is exceeding new supply. When that happens, it’s only a matter of time until prices rise.
There’s more and more hedge funds and foreign buyers taking advantage of the rare opportunity to buy Florida real estate. Why? It makes sense to buy when prices are so far below the cost to build new.
Watch this news article from our local TV station, aired this week. WPBF News reports that the inventory of homes available for sale in the Palm Beach County area is shrinking.
Palm Beach County Housing Inventory is Dropping
Compared to last year’s numbers, the inventory of town homes and condos has dropped 43% and single family homes have dropped 41%. As the available inventory shrinks, we can expect to see the pricing of single family homes increase a bit back to the level they should be at.
The fact that developers are coming to West Palm Beach for their construction projects is a good sign of things to come.
If you’ve read this far, the question I have for you is –
Are you ready to buy?
If you are, contact us today. One of our skilled investor specialists will help you build your portfolio, and then personally manage it for you. Find out why investors keep buying from our agent/managers …. it’s called ‘amazing customer service’ from acquisition to leasing to management and ultimately sale ALL WITH THE SAME professional real estate agent and property manager!