Sales of existing homes in Palm Beach County skyrocketed last month, but it wasn’t enough to offset the worst year for housing in South Florida in more than a decade.
“I think a lot of people are glad that 2008 is in the books,” said Mike Larson, a housing analyst for Weiss Research in Jupiter.
Palm Beach County sales jumped 37 percent in December, as buyers rushed to take advantage of falling prices, the Florida Association of Realtors said Monday.
The county’s median price of an existing home last month was $246,000, down 27 percent from a year ago.
For the year, Palm Beach County’s median was $302,800, off 18 percent from 2007. It was by far the sharpest annual percentage decline since the Realtors’ group started keeping statistics in 1994.
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