Tuesday, November 11, 2014

Update on the Palm Beach County real estate market...

From Kimberly Miller at the Real Time blog (click title for link), we have this new information about the real estate market in Palm Beach County:
The third quarter report from Royal Palm Beach-based Metro study shows new home starts in South Florida slowed some since the second quarter, but were still up 3.6 percent from last year.
Palm Beach [County]: Quarterly housing starts in Palm Beach County are down 22% from the previous quarter and are off 5.5% from 3Q14. Closings were off 6% from the previous quarter, and are down 2.5% from 3Q13. Finished, vacant inventory remains exceptionally low at only 1.2 months of supply.
It might be the lack of supply of quality listing is pulling down sales.