TRACKING MARKET TRENDS

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Knowing and understanding when and why home values take an upturn or downturn can never be done with absolute accuracy, but knowing what to expect through tracking market trends can greatly help you as a buyer or seller of real estate in Palm Beach and surrounding communities like Ft. Lauderdale, Boca Raton, and Hypoluxo Island.

Many things affect housing trends, but none more than changes in the local community and in the national economy. Your realtor can help advise you on how local business, housing and population trends tend to follow patterns or cycles, and where they stand today. He or she can also help you decipher government economics that are likely to affect your home ownership or investment. Ask your realtor about his or her experience with financial markets, and knowledge of economics and housing trends – an experienced and knowledgeable realtor can answer all your questions. Tracking market trends together with an experienced realtor can be a good learning experience, not to mention profitable to your current real estate transactions.

The Palm Beach property market, like all real estate markets, is affected by a variation of factors. As a very broad, general rule you as a buyer or seller should together with your realtor watch trends in interest rates, building permits, homes sales, loan defaults and foreclosure sales. But remember that there may also be other relevant area specific market trends to watch before making any call on home valuations.

To learn more about tracking market trends in Palm Beach, Boca Raton, and Ft. Lauderdale and elsewhere, ask your realtor.

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