Commerce Department, Realtors Association Release Latest Reports

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Waterfront Properties and Club Communities agents agree with the economic analysis of the new data that points to a mounting real-estate recovery.

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Agents at Waterfront Properties are seeing the Palm Beach County housing market mirror – and in some instances exceed – the national trends.

New sales of existing, single-family homes came in at a respectable rate – 373,000 – in August compared to the same month in 2011, according to a U.S. Commerce Department report.

The rate is a 27.7-percent, year-over-year increase, even though it’s slightly less than the 374,000 homes sold in July.

Waterfront Properties and Club Communities in Jupiter is one of many real-estate firms that has helped move transactions forward and get the all-important housing industry back on track.

When news agency Reuters surveyed economists about the Commerce Department data, the economists overwhelmingly said it is further evidence of a mounting real-estate recovery. More evidence includes a robust outlook by homebuilders – a critically important factor in the quest for the industry to return as a driver of the economy.

The National Association of Realtors’ report on home sales paints a larger picture. The agency said sales shot up 7.8 percent, to 4.82 million transactions for the year. Analysts had predicted the annual rate to come in at 4.55 million units.

The Commerce Department also released figures on housing starts, saying they climbed 2.3 percent in August. The annual, seasonally adjusted rate for starts is 750,000, compared to July’s 733,000. The year-over-year improvement is 29.1 percent.

Another significant statistic released this month involves the average price of a new home. The price increased to $256,000 in August, a number not seen since 2007. That’s a 17-percent jump from 2011.

Agents at Waterfront Properties are seeing the Palm Beach County housing market mirror – and in some instances exceed – the national trends. Homes for sale in Palm Beach Gardens are hot property, as South Florida enters its official season.

Other hot property as the winter months approach is Juno Beach condos for sale. The year-round warm weather attracts northerners to the sandy beaches and sparkling seas that serve as the vista from their condo balconies.

For information about Palm Beach Gardens, Juno Beach and the other communities in which Waterfront Properties lists, call 561-746-7272.

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Rob Thomson
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