The numbers are in and Palm Beach County saw another increase in home prices over last year, with a 14.3% increase from 2012. Home prices have been on the rise since 2012, due to the investor market being hot, hot, hot, and there being an acute lack of inventory to meet the demand, particularly for condominium properties. Currently the inventory for Boca Raton luxury single-family homes for sale exceeds 400 different properties, while the luxury market for condos accounts for just a fraction of the total inventory, at just over 50 condominiums for sale priced at over $1,000,000.
It is estimated that the growth rate for home prices in Palm Beach County will slow in 2014, rising only slightly, closer to the average of 4%. This stabilization is a good
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