Jupiter Area Pending Home Sales Up 15%

Huge move after 4 straight declines

Our mid month state of the market reports for the north county region start off with some very, very good news. After dropping for 8 of the last 9 months pending homes sales have moved higher and it was a significant jump. In fact, we have to go back to October 15th of last year to see more homes under contract. We still lag behind the highest number we enjoyed back in May of last year by 30% but this is a wonderful sign of strength coming back to the market. These numbers point to higher sales levels ahead which could help drive local home prices higher despite rising inventory levels.

Pending Feb 15

A few days ago we reported single family home prices up for the third straight month even with falling sales and higher inventories. A very clear sign that buyers are reacting positively with more inventory to choose from and willing to pay higher prices. Interest rates, that have been down now for 7 straight weeks, certainly have a positive impact on sales but we wonder just how long these drops can continue even with poor economic news.

Despite recent poor economic reports, especially in regards to job creation, many of the nation’s top economists expect the overall economic recovery to gain steam this year. The jobless rate which fell in January to the lowest level we have seen in over 5 years is a positive sign. Even with the drop in the Dow early in the year and home prices that have until recently floundered Americans are feeling better about the economy and their financial position.

In our next report we will dig into the changes since last month in inventory levels and let’s just say buyers keep on having more options to select from. We also will be looking into investor activity which remains strong and why so stay tuned. Always interesting, always fun.

Fins up………..

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Tom Priester

After spending years among the top individual performers at one of Palm Beach County’s largest and most successful real estate brokerages, Tom Priester knew there was another way to do real estate. A better way. Real estate services focused on the customer. Like the old days when the customer truly was #1. He tired of listening to why he should be going out to have his customers sign one sided buyers’ brokerage agreements. He tired of hearing how he should be selling customers why paying higher commissions, like 7% and 8%, was to their benefit. He tired of hearing how he should sell his clients on why they should be paying hundreds of dollars in additional “transaction fees”. The business had slid way too far from being focused on the customer. His customer. So he decided the time was right to be different…..by design. To start his own unique boutique real estate firm truly focused on his customers. They will now have access to a process focused on them. Only the best marketing techniques to sell their homes. No cutting corners. Commission structures based on his clients needs not his. Paradise Sharks was born out of Tom’s passion to return this business to the customer. Where it belongs. If you want a real estate experience that benefits you, just give Tom a call at 561 308-0175 or send him an e-mail at tom@paradisesharks.com. You can always pay more and receive less but that just would not make any sense. Would it?

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