The Sun Sentinel put out an article yesterday about the possibility of another housing bubble in South Florida.
According to the article, Broward and Palm Beach counties have seen double-digit median price increases for existing homes. One reason for increased prices is low inventory. Inventory in Broward is down 27 percent and 42 percent in Palm Beach from last year.“Some of the more attractive properties are fielding dozens of offers, forcing bidders to exceed the asking price in hopes of being selected.”
Full article can be viewed here: Sun Sentinel – Fast-rising home prices stir fears of another bubble
What are home price trends looking like in your area?