Palm Beach County Florida Real Estate Market December 2019

Palm Beach County Real Estate Market December 2019

I recently spoke with someone from the West Coast who asked how the local real estate market was doing.

I let him know things were holding up,  with prices still climbing slightly on a sequential basis.

He seemed surprised.

I indicated inventory is still relatively tight and interest rates remained low.

The latest information on Palm Beach County shows prices increased 5.6% on a year-over-year basis during December 2019.

The chart also shows inventory dropping in terms of months supply of inventory.

Call me to discuss 561-247-3550.

Information for Broward, Palm Beach, Martin, St. Lucie and Miami-Dade counties : CLICK HERE

Curious as to what is on the market? -- Run a search here on my Website : CLICK HERE

Case Shiller Home Price Index: December 2014: South Florida Home Sales Price Increases More Than National Average

The latest Case Shiller Index information shows continued strength in price appreciation in the South Florida residential real estate market as of December 2014.

On a sequential basis the South Florida housing market saw prices increase by 0.7% on a sequential basis and rose 8.4% on a year-over-year basis in December 2014, according to the Case-Shiller Home Price Index.

The Case-Shiller Index for the US housing market as comprised by the Composite-10 and Composite-20 Case-Shiller benchmarks showed a 0.1% price uptick on a sequential basis and 4.3% and 4.5% increase, respectively, on an annual basis in December 2014.

David Blitzer, the Managing Director and Chairman of the Index Committee at S&P commented as follows, " the housing recovery is faltering.  While prices and sales of existing homes are close to normal, construction and new home sales remain weak.  Before the current business cycle, any time housing starts were at their current level of about one million at annual rates, the economy was in a recession."

The strongest markets by price appreciation was San Francisco and Miami (South Florida), according to the Case Shiller Index.

The Case-Shiller Index also shows that measured from the peak in June/July 2006, the Composites are about 16% to 17% off the top.  The recovery since March of 2012 lows shows a recovery in the Case-Shiller Index of 28.2% for the Composite-10 and 29.1% for the Composite-20.

Other areas of interest:

Dec-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	175.04	-0.20%	3.80%
Chicago	126.98	-0.90%	1.30%
Miami	192.49	0.70%	8.40%
Minneapolis	140.73	-0.30%	1.90%
New York	175.24	0.00%	1.90%
Tampa	165.19	0.10%	6.40%
Composite 10	187.81	0.10%	4.30%
Composite 20	173.02	0.10%	4.50%
Source:
S&P Indices
Firserv

I take an analytical approach to buying, selling and leasing real estate.  If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.

For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman

Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Case Shiller Price Index: December 2013: Heat Remains In South Florida Real Estate Market

The South Florida real estate market continued to have price appreciation in December 2013, according to the Case Shiller Index.  The Index indicated there was almost a 1.0% sequential increase and a 16.5% year-over-year increase in December 2013.  This compares with a relatively flat prices on a sequential basis for the US and only a 13.5% annual increase in December 2013 for the US.

David Blitzer, Chairman of the Index Committee said, "The Case Shiller Index ended its best year since 2005.  However, gains are slowing from month-to-month and the strongest part of the recovery in home values may be over."

He went on to say, "Recent economic reports suggest a bleaker picture for housing.  Existing home sales fell 5.1% in January from December to the slowest pace in over a year.  Permits for new residential construction and housing starts were both down and below expectations."

We are noting here that the Florida market has shown some of its strongest year-over-year growth comparisons during the December 2013 timeframe.  A seasonally strong period for the South Florida market is the winter months; however, the comparison was with same period the previous year.  We think this shows the South Florida real estate market continues to be a strong market with upward momentum in pricing.

Here are other areas of interest:

December	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	168.65	-0.10%	9.60%
Chicago	125.29	-0.50%	11.30%
Miami	177.57	0.90%	16.50%
Minneapolis	138.14	-0.70%	9.70%
New York	172.18	-0.30%	6.30%
Tampa	155.23	0.30%	15.80%
Composite 10	180.13	0.00%	13.60%
Composite 20	165.69	-0.10%	13.40%
Source:
S&P Indices
Firserv

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.

For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Case Shiller Housing Index: December 2012: US Home Prices Continue To Rise

US Housing prices continued to rise at a pace of about 6% to 7% on a year-over-year basis in December 2012.  The Case Shiller Composite 10 and Composite 20 rose 5.9% and 6.8%, respectively, during 2012 over 2011.

The South Florida housing market continued to show better than average price increases during December 2012.  Home prices increased 10.6% in December 2012 over December 2011.  Sequentially, the market was up 80 basis points, almost a full percentage point.

To quote from the Case Shiller report, "Home prices ended 2012 with solid gains," says David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. "Housing and residential construction led the economy in the 2012 fourth quarter."

With a shortage of inventory in the local South Florida market, I foresee a continuation of the sequential uptick until we start to see more inventory reach the market place.

Other areas of interest:

December	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	153.81	0.10%	3.60%
Chicago	112.61	-1.30%	2.20%
Miami	152.36	0.80%	10.60%
Minneapolis	126.09	-0.10%	12.20%
New York	161.58	-0.40%	-0.50%
Tampa	134.04	0.20%	7.20%
Composite 10	158.49	0.20%	5.90%
Composite 20	145.95	0.20%	6.80%
Source:
S&P Indices
Firserv

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.


For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

An Analytical Approach To Buying, Selling and Leasing Real Estate

http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Case-Shiller Housing Index: December 2011: US Home Prices Continue To Decline: Homes For Sale: Homes For Rent

Home prices in the US continue to fall, according to the Case-Shiller Index. The national composite fell by 3.8% on a sequential basis during the fourth quarter of 2011 and was down 4.0% versus the fourth quarter of 2010. Both the 10- and 20-City Composites fell by 1.1% in December 2011 over November 2011.

Distressed properties are beginning to return to the market, as we predicted (see earlier posts). The distressed properties (i.e., short sales and foreclosures) are prompting buyers to wait for better prices. An ancillary effect is new construction is being delayed by the increase in distressed properties hitting the market.

The recent improvement in domestic economic activity has not been strong enough to stabilize home prices. According to RealtyTrac, about 5 million houses have been lost to foreclosure since 2006. Some experts are predicting another 1 million US homes will be lost in the foreclosure process during 2012.

Our prediction is it will take another year to absorb all of the new inventory that is expected to hit the market in the coming year. If the economy continues to show improvement, we think 2013 might shape up for the beginning of a return to price increases for the US housing market.

Other areas of interest:

December 2011December/NovemberNovember/OctoberMetropolitan AreaLevelChange (%)Change (%)1-Year Change (%)
Boston 148.54-1.2%-1.6%-2.6%

Chicago 110.23-2.0%-3.4%-6.5%

Miami 137.700.2%-0.5%-3.8%

Minneapolis 111.64-1.8%-0.5%-4.9%

New York 163.11-1.2%-1.4%-2.9%

Tampa 125.08-0.2%-1.1%-4.3%

Composite-10 149.89-1.1%-1.3%-3.9%

Composite-20 136.71-1.1%-1.3%-4.0%

As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.

For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://MYsouthFLrealestate.com

Referrals are appreciated and welcomed.

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Homes For Sale: Case-Shiller Index: December 2010

South Florida home prices continued its five month sequential slide during December 2010, according to the Case-Shiller Home Price Index. Compared with December 2009, homes prices were down 3.7% in December 2010; this is the lowest level since the real estate market crash begain in 2006.

The national home price index fell 2.4% from December of last year; this is a proxy for the US housing market, in our view. On a quarterly basis, the Case-Shiller national home index was dwon 4.1% in 4Q:10 versus 4Q:09.

Also hitting new lows in December 2010 since their respective peaks in 2006/2007 were the following markets: Atlanta, Charlotte, Chicago, Detroit, Las Vegas, Miami, New York, Phoenix, Portland (OR), Seattle and Tampa.

Level Change (%) Change (%) 1-Year Change (%)

U.S. National Index 130.38 -3.9% -1.9% -4.1%

Boston 152.54 -0.1% -1.0% -0.8%

Miami 143.11 -0.5% -0.2% -3.7%

Minneapolis 117.09 -1.3% -2.2% -5.3%

New York 167.86 -0.9% -1.2% -2.3%

Tampa 130.23 -2.6% -0.9% -6.2%

Composite-10 156.26 -0.9% -0.8% -1.2%

Composite-20 142.42 -1.0% -1.0% -2.4%


As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free to contact me.

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550

http://michaelfriedman.rmlsfl.mlxchange.com/?Page=7395217 <--property search link to cut and paste into your Web browser

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty