New Construction, New Home Sales Saw Big Jumps in 2015

2015 Palm Beach County Real Estate Stats

As we look back on the year that was 2015, it’s been a pretty good 12 months for the real estate industry as a whole, and especially here in South Florida. Nationwide, single-family home constriction hit its highest level since 2007, and overall construction spending has increased by 13% over the past year as well.

Job gains in many parts of the U.S., in addition to low mortgage rates, also helped improve market conditions throughout 2015. New home sales specifically saw its biggest jump in more than seven years, with some reports showing a 22% increase so far in 2015.

There’s no doubt more new home construction and increased home sales continue to also have a huge benefit on the national economy, creating more construction jobs, more manufacturing jobs, and helping any number of maintenance service businesses like landscaping and pool maintenance, which are of course widespread down here in Florida.  

Locally, home values in Palm Beach County are also on the rise, with recent statistics showing a 9.5% jump from October 2014 to October 2015. But even despite a fairly substantial jump, Palm Beach County’s home value increase is still rather modest compared to many other larger markets in the U.S. like New York, San Francisco, and Denver, which have seen among the highest increases in the country in recent years.

Dylan Snyder is a seasoned real estate professional serving the Jupiter real estate market, Palm Beach real estate market, Palm Beach Gardens real estate market, North Palm Beach real estate market, and the surrouding Palm Beach County area. Along with being a top producer in Jupiter real estate, Dylan's professionalism and expertise in luxury and waterfront real estate sets him and his team of real estate experts apart from the competition. For more information on Jupiter and Palm Beach real estate for sale, contact Dylan at (561) 951-9301.

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