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Are Home Prices Leveling Out in Jupiter Florida ?
During the last couple of years, Jupiter Florida homeowners have watched the values of their homes decrease steadily each month. In addition to the loss in equity suffered by these homeowners, the declining prices also meant that buyers interested in properties in the area were sitting on the sidelines waiting for the market to bottom out before making a purchase. Real estate professionals have been trying to predict when the price slide would finally stop, but without much luck. However, in a report by the Florida Association of Realtors, south Floridians might finally be getting a break. In Palm Beach County, which as been experiencing price declines averaging a couple of percentage points per month, values were only down less than 1% in December of 2008. In neighboring areas of the Treasure Coast, values actually increased by 1%! Also, the actual number of homes sold increased in both areas in December (up 41% in Palm Beach County, and up 32% in the Treasure Coast areas). The question is, was December 2008 an anomaly, or is the south Florida real estate market finally beginning to stabilize and turn itself around? What do you think? Don't forget: for more information on the south Florida real estate market, contact The Ted Team!
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