FL: Half of Third Quarter Palm Beach Home Sales Sold at a Loss

A new report says almost half the people who sold their homes in Palm Beach County from July through September lost money in the deal. Florida’s statistics are much worse than the national average: 1 in 3 homeowners across the U.S.A. is losing money at sales time. It’s a trend real estate experts say we may be stuck with for years to come.

Once upon a time, South Florida real estate was guaranteed to be a good investment. Homeowners could easily sell for more than they purchased a property, and make some money. Not only have times changed, they appear to be getting worse.

“About two out of every three deals I’m handling are short sales,” says Jen Sommers, a Realtor with Keller Williams Realty. In Palm Beach County the losses top $100,000.

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