Is it Finally Time to Buy a Home in West Palm Beach FL?

by Rodney Forbes on November 15, 2010

Home prices in West Palm Beach Florida have been in a serious decline for several years. How long has it been since average prices were this low? Does it mean the time is finally right to buy a home, whether a foreclosure or short sale? Have we reached the bottom in Florida? The following chart from Zillow shows the average price/value in West Palm Beach for the past 10 years.

West Palm Beach Median Sale Price

The last time prices were this low was January 2002!
Combine this with the lowest interest rates in decades, no state income tax in Florida and retirees starting to come back to Florida, we may have turned the corner(finally) in the home market.

No one can see the future, but if the chart above is any indication, it may well be time to get off the fence and into a home.

P.S. Investors have been buying rental property in Florida like crazy for over a year.

If you are interested in buying or selling a home in the Palm Beach County area, specifically Palm Beach Gardens, Jupiter and West Palm Beach, please visit my Forbes Realty website. For frequently updated information on foreclosures, short sales, real estate news and market conditions visit my South Florida Real Estate Report blog. There are many free reports as well as free access to MLS listed properties. You can also call 561-337-4810.

Rodney Forbes is a licensed Realtor®, certified short sale/REO specialist and broker for Forbes Realty of South Florida Inc. Rodney has co-authored the book “Should I Short Sale My Home?”. Get your FREE copy at www.SouthFloridaRealEstateReport.com

Leave a Comment

Previous post:

Next post: