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8/13/2009 - Home Prices Rise, Foreclosures Fall in County

Tentative signs of a bottom for Palm Beach County's real estate market continue to emerge, with home prices rising a bit in one study and the flood of foreclosures easing in another report.

The median price of a single-family home sold in Palm Beach County during the second quarter was $240,400, up from $229,200 in the first quarter but down 27 percent from a year ago, the Florida Association of Realtors said Wednesday. The number of homes sold rose 8 percent from a year ago.

The numbers include homes sold in April, May and June, and Palm Beach County prices spiked in June.

Meanwhile, foreclosure activity fell in Palm Beach County in July, research firm RealtyTrac said in a report released today. There were 2,652 homes entering some stage of foreclosure in July, down 24 percent from July 2008, RealtyTrac said.

The two reports brought good news for home sellers and Realtors shell-shocked by the housing market's dizzying collapse in the past three years.

Source Palm Beach Post 8/13/2009

Peter Schulz - Editor - Email TCM

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