Palm Beach, Florida –(BUSINESS WIRE)– The Palm Beach Gardens, Florida home sales market has been in the red for a few months, and that is due in large part to a major downturn in local sales.
The sales data company CBRE reported Tuesday that the home sales season is at an all-time low.
The numbers are down 14% from the previous season.
The number of home sales has been declining for several months.
In addition, the number of buyers is down as well, with the average price of a home now at just $2,827.
The average sale price for a home in Palm Bay has dropped from $1,049 in March to $1 of $1.5 in February.
The sales season for the market has not been that great.
The last three months saw only 5% of sales come in from buyers.
The home sales data firm said that it will be important to keep on the lookout for those who have been unable to get a mortgage because they were unable to find financing for the home.
CBRE is releasing a report later this week that will examine the factors that have led to this decline in home sales.
This is a breaking story.
We will update this story as more information becomes available.
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