Palm Beach County boasts nation’s highest home-price gains

(Getty Images)

(Getty Images)

Palm Beach County had the nation’s highest home-price appreciation over the past year, according to housing site Ten-X. Prices jumped 12.1 percent, outpacing Orlando’s 11.2 percent, Tampa’s 10.7 percent and Dallas’ 9.9 percent.

However, sales volumes declined slightly over the year.

Ten-X’s analysis:

“Palm Beach is seeing healthy progress in its housing recovery, though economic growth has markedly decelerated in 2016. Year-over-year employment growth is at 1.5 percent, the lowest annual rate since 2011 and down from the three to five percent growth the metro has enjoyed for most of the recovery. Home sales are at a high level, however, some 24 percent below their bubble peak, indicating plenty of room for further growth. Seasonally adjusted prices are approaching $270,000 and are at their highest level since 2007, though they remain 11.6 percent below their prior peak. This suggests room for further growth. Single-family homes in the metro offer great affordability and are cheaper than local apartment rentals, which should preserve demand for buying and allow for additional price gains. With permit activity still hovering at a low level, overbuilding is far from a concern and Palm Beach’s housing market remains solid.”

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