By LINDA RAWLS
Palm Beach Post Staff Writer
Thursday, July 26, 2007
Sales of existing homes in Palm Beach County declined in June, but not as
much as in many other parts of the state, according to a Florida Association
of Realtors report released Wednesday.
Still, sales of existing single-family homes fell 19 percent when compared
with June 2006, and the median price took a tumble to $377,900 from $405,500.
It was the first significant drop – 7 percent – in home prices since the market
started cooling off from its unprecedented run-up two years ago.
"June was another rough month for home sellers," said
Mike Larson, an analyst for Weiss Research in Jupiter.
"We just can’t seem to get much going sales-wise, even with the moderate
drop in prices we’ve seen so far," Larson said. "That tells me we
need even more price-cutting to bring buyers out of the woodwork."
In the condominium market, Palm Beach County sales rose a modest 3 percent,
while prices declined 3 percent year over year, to a median of $201,500.
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http://www.palmbeachpost.com/localnews/content/local_news/epaper/2007/07/26/s1a_PB_HOMESALES_0726.html
