Real Estate Market Update for October 2019
Due to a combination of low interest rates, low unemployment and increasing wages, the real estate market continues to show strong buyer demand and consistent price growth. On a nationwide basis as well as within Palm Beach County, foreclosures and other distressed properties continue to decline indicating a strong and healthy real estate market.
Commercial Real Estate
The national commercial real estate market also remains strong with low vacancy rates, increasing rent growth and declining capitalization rates. According to Real Capital Analytics, cap rates averaged 6.1% in July and August 2019 (properties above $2.5 million).