With pending home sales jumping 15% in January we now add a 4% jump in home inventory in Palm Beach Gardens and the surrounding communities. Good news that the market needs if we are to see prices move higher over the next few months.
While local home buyers have more options than they did a month ago, home inventory levels in the Northern Palm Beaches still lag year ago numbers by almost 10%. After the months of straight decline we are starting to pull even with the 12 month moving average so options are improving. As we reported two days ago, buyers have responded with pending home sales moving strongly higher as of February 1st.