Highlights from today’s Rock the Market event, hosted by the Jupiter Tequesta Hobe Sound Council of the Miami Association of Realtors:
Population growth is back: Think traffic is annoying now? It’s likely to get worse. Palm Beach County is projected to see 6 percent population growth in the next half-decade. “We’re going to have a very strong population surge over the next five years,” said Miami real estate analyst Anthony Graziano.
A “Trump bump”: President Donald Trump’s frequent visits to Mar-a-Lago focus the world’s attention on Palm Beach. Graziano considers that nothing less than free marketing for South Florida real estate. “For better or worse, Palm Beach gets a Trump bump,” Graziano said.
Undervalued real estate? Palm Beach County home prices have rebounded in recent years, but the county remains affordable compared to New York, San Francisco and other big-city markets, said Jay Parker, chief executive of Douglas Elliman Florida. “We are undervalued, and anyone that wants to tell you differently is mistaken,” Parker said.