Home prices in Florida are not only stable, but a major national indicator reports only a 3 percent risk of decline, 1 percentage point ahead of the national average as reported in the Winter 2017 Arch MI Risk Index.
This is promising news for Florida real estate investors (if not so great for the renters and Millennials who will be hardest hit as housing becomes less affordable). That’s not really an issue here on the island of Palm Beach, where real property is so often not just “home” but part of the owner’s portfolio.
The Arch MI report predicts more demand than supply, continuing a trend in recent years both nationwide and here in Palm Beach. With low volatility and an annual home price increase of 9.6 percent in the third quarter of 2016, Florida is among the country’s leaders in home price gains, and the strongest performer in the Southeast.
As of this writing, our publisher (the Palm Beach Board of Realtors) has 119 new listings for 2017, and many of these are advertised in the Palm Beach Real Estate Guide. Browse here.