Signs Point to V-Shaped Recovery for Palm Beach County
Just in! Newly released market reports from Florida Realtors® detailing recent real estate activity in the Palm Beaches. The reports compare year-over-year data for June. Here are statistics on single family homes.
“More promising news for Palm Beach County! We are starting to see the housing market move towards normalcy. Although real estate was quickly deemed essential early in the pandemic, the virus did play a role in our numbers. Most would assume that the market would be derailed after months of social distancing, but new statistics point to a v-shaped recovery. There were 1,478 closed sales in June, which is a hefty increase from the 991 closed sales we saw in May,” said Jarrod Lowe, President of Broward, Palm Beaches & St. Lucie Realtors®.
Closed sales are one of the simplest – yet most important – indicators for the residential real estate market. Closed sales are affected by seasonal cycles, so actual trends are more accurately represented by year-over-year changes, rather than changes from one month to the next.
“The upward trend in closed sales just goes to show how resilient the Palm Beach market is. As South Florida continues to reopen, local Realtors® are here for you and are ready to help in your pursuit of homeownership,” continues Lowe.
Market Reports: Palm Beach Single Family | Palm Beach Townhouses/Condos
Broward, Palm Beaches & St. Lucie Realtors® is the 3rd largest local Realtor® association in the country, representing 33,000 Realtors®, 35,000 MLS subscribers, and 5 regional boards across South Florida & the Treasure Coast. For more info, visit Rworld.com or contact Communications@rworld.com.