The Sun Sentinel reported that although home sales have shot up, aided by the $ 8,000 credit, prices have continued to fall.
Median home prices in Palm Beach County fell from $ 292,200 to $ 242,900 in the last year.
Existing sales in September went from 522 to 746. This means sales in Palm Beach county have increased 14 of the last 15 months.
Sellers hope prices will stabilize soon. However, housing analysts, citing high unemployment figures, said prices are likely to keep dropping until the middle of next year.
Follow the local market: www.CoastalFloridaRealEstate.net
Richard Sites, Realty Associates