The Real Estate Association of the Palm Beaches released a press release recently with the Real Estate sales numbers for September 2014. Typically September is one of the lowest selling months for residential Real Estate. Comparatively, September of 2013 showed a 15% decline while September 2014 just a 10% decline in sales. This is at a 5 year high. The month boasted 1,355 in Single Family Home Closings in September 2014. This is 23.5% MORE closed sales year over year. That is exciting news for the West Palm Beach Real Estate Market as we head into one of busiest times of the year.
The economy is on the rise, options for residential living is also on the rise bringing buyers to our community. There are a handful of great signs we’re moving in the right direction with Real Estate sales. It’s 8 years later from the housing bubble decline meaning, many families who were hard hit are now able to get back into the housing market. Let’s not forget about a growing first time buyer market with Gen X and Gen Y buyers. It’s also good to keep in mind that Florida hasn’t seen a hurricane in over 5 years either. Due to this, the largest insurance company in Florida is offering a decline in their rates! All excellent opportunities for buyers!
The fall season is projected to be one the best in a long time for Real Estate! Whether you’re in the business or you’re a buyer on the hunt, it’s a good time to be apart of the growth in Real Estate in West Palm Beach. This has positive lasting effects on our community as a whole as growing home ownership brings growth, stability, and higher value. It’s a win win!