{"id":3838,"date":"2022-12-14T15:36:25","date_gmt":"2022-12-14T20:36:25","guid":{"rendered":"https:\/\/www.luxuryhomemagazine.com\/thepalmbeaches\/blog\/?p=3838"},"modified":"2022-12-15T12:36:56","modified_gmt":"2022-12-15T17:36:56","slug":"the-pohrer-report-palm-beach-market-update","status":"publish","type":"post","link":"https:\/\/www.luxuryhomemagazine.com\/thepalmbeaches\/blog\/2022\/12\/14\/the-pohrer-report-palm-beach-market-update\/","title":{"rendered":"The Pohrer Report: Palm Beach Market Update"},"content":{"rendered":"

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column width=”2\/3″][vc_single_image image=”3841″ img_size=”large” alignment=”center” qode_css_animation=”” css=”.vc_custom_1671050266654{margin-bottom: 30px !important;}”][vc_column_text css=”.vc_custom_1671050715740{margin-bottom: 30px !important;}”]<\/p>\n

\n\u201cIs the market softening?\u201d<\/p>\n

This is a question I get on a weekly basis from clients and prospective clients. If only I had a crystal ball and could predict real estate market cycles! Although I cannot provide a definitive answer to that question, I thought it would be helpful to share some of the data and reports that I look at as leading indicators to spot trends in global and local real estate markets. If you\u2019re a data junkie, I encourage you to check out our full quarterly report at: https:\/\/www.garypohrer.com\/pohrer-report<\/a><\/p>\n

In this quarter’s report, as with all of our reports, I share actuals from the past quarter. But Q2 2022 actuals do not answer the broader market question that so many of you are eager to uncover. This is because Q2 is a lagging indicator of the market, reflecting transactions that closed in Q2 but actually moved to contract in Q4 2021, Q1 2022, and Q2 2022. We won\u2019t know for certain how the Palm Beach market is being impacted by macro trends such as rising interest rates, stock market upheaval, and other economic shifts until Q4 of this year or even Q1 of next year, because real estate players need time to react to how their pricing and their pocketbooks fit into the big picture. But I think you will find the data and trends I watch helpful in painting a picture of how real estate is being impacted by the rise in interest rates and Federal Reserve balance sheet tightening.<\/p>\n

We remain cautiously optimistic about Palm Beach real estate. We are seeing some indicators suggest a slowdown in the overall real estate market. That being said, we’re not quite feeling it yet in Palm Beach.<\/p>\n

The market still appears to be strong, with the exception of the low inventory challenges we\u2019ve experienced for the last several quarters.
Demand remains strong and the prices people are willing to pay to own a piece of the Island continues to inch up. Palm Beach is by no means immune as it has had 10%-20% corrections in the past, but it does have unique traits in its favor that help it withstand some of the economic
storms we\u2019ve endured over the last 40+ years. Our inventory is finite, the town and culture of Palm Beach is one of the best warm weather destinations in Florida, and people are moving
here for flexible work setups, major corporate expansions, and no state income tax.<\/p>\n

[\/vc_column_text][vc_single_image image=”3846″ img_size=”large” alignment=”center” qode_css_animation=”” css=”.vc_custom_1671050671564{margin-bottom: 30px !important;}”][vc_column_text css=”.vc_custom_1671049647887{margin-bottom: 30px !important;}”]I hope you enjoy the read and as always, please don\u2019t hesitate to reach out with any questions.<\/p>\n

If you like what you\u2019ve seen here, I encourage you to check out our current and past Pohrer Reports for a much more in depth view of the Palm Beach market at https:\/\/www.garypohrer.com\/pohrer-report.<\/a>[\/vc_column_text][vc_column_text css=”.vc_custom_1618337553332{margin-bottom: 30px !important;}”]Visit Luxury Home Magazine of The Palm Beaches<\/a> to search more available luxury real estate in South Florida.[\/vc_column_text][\/vc_column][vc_column width=”1\/3″][vc_widget_sidebar sidebar_id=”sidebar”][\/vc_column][\/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_empty_space height=”50″][vc_column_text css=”.vc_custom_1610052315170{margin-bottom: 20px !important;}”]<\/p>\n

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