Jul 27 2016 19504 1 Palm Beach Ranks Nations Hottest Market

Jul 27 2016 19504 1 Palm Beach Ranks Nations Hottest Market

“Palm Beach County’s housing market is scorching. Seasonally adjusted home prices are up 16.8 percent year-over-year, the highest pace in the country, while quarterly gains have exceeded 3 percent in each of the past seven quarters. Prices are at a cyclical high after eclipsing $260,000 this quarter but still 14 percent below their pre-recession peak, suggesting additional room to run. Employment is also at an all-time high, with jobs up 2.4 percent from a year ago thanks to strong performances in key sectors like financial services, education, healthcare, and leisure & hospitality. As rents continue to rise for local apartments amid accelerating population growth (1.7 percent in 2015), the affordability of single-family homes should continue to fuel demand and the local housing market will continue to prosper.”


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Victor DeFrisco Headshot
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Phone: 561-951-3759
Dated: July 27th 2016
Views: 150
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