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Pending Home Sales Soar to 10 Month High in Jupiter Area

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April 15th numbers show another 8% improvement

After declining for 8 months over a 9 month period, pending home sales in the northern Palm Beach County region continue the streak of good news we have been on for a few months now. Our mid month report shows that homes currently under contract in the area have now reached the highest levels than we have seen since June 15th of last year.

Not only are we at new 10 month highs for pending home sales in the Jupiter area but this metric has now improved with strength for the third straight month. As we reported a few days ago, there is nothing more important in the continuation of the record price increases we have been seeing than stronger sales moving forward. These pending home sales numbers are indeed very positive news.

Still some very real concern how the overall economic picture will effect us here in paradise. No doubt with the growing international interest, huge number of incoming baby boomers and more wealthy Americans attracted by the 4th lowest state tax burden in the country that we play by a different set of rules than other less fortunate locations. So far this week interest rates are down again. Combined with the large declines of last week, borrowers now have the cheapest money we have seen since November of last year.

There is little doubt that we are in waters that we have never experienced in this country and the future is going to be fun to track. For now we shall sit back and enjoy the strong pending homes sales of today and the future price increases it should be bringing our way. Always interesting, always fun.

Fins up..........

Tom Priester
Principal Broker

Paradise Sharks Real Estate