How long the double-digit price increases will continue is unclear, but July marked another month for Palm Beach County to see an impressive hike of 14 percent compared to the same time in 2012.
The increase, noted in the latest CoreLogic report, is higher than the national average, which stood at 12.4 percent in July.
Statewide, the price increase, including distressed sales, was 12.6 percent. But that wasn’t enough to put the Sunshine State on the list of highest price climbs.
Those titles went to Nevada, which saw a 27 percent increase, California (23 percent), Arizona (17 percent), Wyoming (16 percent) and Oregon (15 percent.)
Compared to June, Palm Beach County was up 2.4 percent, while the national average was up 1.8 percent.
“Home prices continue to surge in July,” said CoreLogic chief economist Mark Fleming. “Looking ahead to the second half of the year, price growth is expected to slow as seasonal demand wants and higher mortgage rates have a marginal impact on home purchase demand.”
Florida did make one CoreLogic Top 10 list. It ranked second for the largest peak-to-current declines in pricing with a 37.4 percent decrease. Nevada came in first with a 43 percent decline, with Arizona ranking third with 32.5 percent.
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on Tuesday, September 3rd, 2013 at 7:56 am and is filed under Florida economy, Foreclosures, Housing affordability.
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