The median townhouse-condo price in
Palm Beach County is $82,500, up from $75,000 a year ago. Less than 1 in
5 closings were for residential home sales in financial distress.
Distressed inventories are at 2007 levels.
Short sale process by Bank of
America has been "accelerated." These indications bode well for
the housing market.
Total March pending single-family
home sales in the county are up 70% from a year ago for homes and 41.1% for
townhouses and condos. Single family homes inventory has decreased 38%
from the previous year and 40.8% from a year earlier.
The inventory decrease and increase
in number of buyers has created a more competitive market place and that has
positively impacted property values.
