Palm Beach Real Estate News


A lack of inventory has made it extremely challenging for would-be buyers to find the right property. But it looks like a wave of new construction may finally be on the way—and, judging by the permits, that wave is going to be a significant one.

According to a recent article in REALTOR Magazine, housing permits (which act as a predictor for future construction) increased 5 percent in October. That’s the fastest rate of permit authorization since 2007—just before the Great Recession.

According to Lawrence Yun, chief economist of the National Association of REALTORS®, this increase in housing permits is “tremendously good news for the housing sector.”

“At 1.46 million units on an annualized basis, housing permits are nearly to the level needed for the country over the long haul,” Yun said in the article. “Since new-home construction kicks off the chain reaction of people trading up and trading down by buying new and selling their existing homes, more housing inventory will surely show up in the market next year.”

The Takeaway:

So, what does this mean for you? If you’ve been trying to buy a home but have struggled with a lack of inventory, this increase in housing permits should be the jumping off point for new construction—and once that new construction hits the market, it should make it easier for buyers to find the right home.

Posted in:homebuyerPosted in:buying a homePosted in:home buyer and tagged: homebuyerbuying a homehome buyer
Posted by Heather Smith on January 10th, 2020 2:57 PM


Technology has made a variety of real estate transactions significantly more convenient; instead of filling out paperwork in person, digital contracts allow you to conduct virtually all of your real estate business online from wherever you are. But there’s one transaction the majority of people still prefer managing in person—and that’s closing on a house.

According to a recent survey from Solidifi, a network management solutions provider in the residential lending industry, 81 percent of consumers prefer to close on their home or refinance in person. One of the main reasons? Consumers still value having a qualified closing agent on hand to help them navigate the process; according to the survey, more than two-thirds of consumers said their experience working with their closing agent would make them more likely to work with their lender in the future.

What does this mean for you? If you’re purchasing a home and the thought of a digital closing doesn’t sit well with you, you’re not alone. Working in person with a qualified closing agent can help you better navigate the closing process, get all of your questions answered, and ensure that the purchase or refinancing of your home goes smoothly.

Posted by Heather Smith on December 20th, 2019 3:17 PM

For years, most people followed a similar path. Go to school. Get married. Buy a house. But for many millennials, that path no longer makes sense—and purchasing a home has moved up the priority list.

According to a recent survey from LendingTree, 24% of millennials want to purchase a home before they get married, and another 27% are putting off starting a family until after homeownership. In fact, 43% of all first-time homebuyers in the US are single!

The Takeaway

If you’re a millennial and homeownership is your top priority, you’re not alone. There are plenty of other millennials who are buying homes before getting married or starting a family. So if that’s your plan, don’t wait. Now is a great time to make a move and turn your dream of homeownership into a reality.

Posted by Heather Smith on May 29th, 2019 12:53 PM

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