West Palm Beach is a vibrant hub of arts and culture, with a history that includes Henry Flagler's resort and a stop on the Florida East Coast Railway. Explore the historic Northwood Village and Antique Row districts, or immerse yourself in nature at Grassy Water Preserve or McCarthy’s Wildlife Sanctuary. Discover inspiration at The Society of the Four Arts or unleash your creativity at the Armory Art Center. In West Palm Beach, artistic wonders await at every corner.
Welcome, future homeowners and investors! As your trusted real estate agent, I'm thrilled to guide you through the exciting journey of finding your dream property or making savvy investments. This week, we have some fantastic featured articles highlighting the latest trends in the housing market.
Prices keep rising
Case-Shiller’s national home price index rose 0.4% month-over-month in Feb 2024. That's up from +0.3% MoM in Jan 2024. Only one big city (Tampa) saw a MoM decline, and 14 out of 20 big cities showed an improvement in February versus January. Compared to last year, the national price index was up 6.4% YoY in Feb 2024, stronger than +6.0% YoY in Jan 2024. [Source: S&P Global]
What the Fed said
At its May 1 meeting, the FMOC (Federal Open Markets Committee) voted to keep short-term interest rates steady at 525-550 basis points (5.25%-5.50%). The last time the Fed raised rates was July 2023! Q: Why is the Fed not cutting rates? A: Chairman Jerome Powell cited the recent lack of progress on inflation, and the continuing strength of the labor market and economy. [Source: Federal Reserve]
How things have changed
At the beginning of 2024, the market was expecting multiple Fed rate cuts starting as early as May. Today, the market is pricing in only one rate cut...in November! For multiple rate cuts to be back on the agenda, it would likely require either a significant increase in the unemployment rate (>4%) OR a convincing move in "core" PCE (<2.5%). [Source: CME, Mortgage News Daily]
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Exciting News for West Palm Beach Residents & Friends
Festivals and events hold a distinguished position in West Palm Beach, serving as indispensable elements in shaping the city's urban identity. Despite its rapid growth, West Palm Beach has managed to preserve a sense of intimacy and cohesion reminiscent of a smaller, closely-knit community, largely owing to its vibrant array of events. Be sure to check out the calendar of events and activities in West Palm Beach for the month of May.
Location:Kravis Center for the Performing Arts701 Okeechobee Blvd. West Palm Beach, 33401
Artist Reception: Autumn Kioti Horne
Date: Thursday, May 9, 2024
Time: 5:00 PM - 7:00 PM
Location:Cultural Council for Palm Beach County601 Lake Avenue Lake Worth Beach, 33460
Blooming Pink Roses Paint & Sip
Date: Friday, May 10, 2024
Time: 8:00 AM - 5:00 PM
Location:The Peach3950 Georgia Ave West Palm Beach, 33405
Miami City Ballet presents: Alexei Ratmansky’s Swan Lake
Date: Saturday, May 11 - May 12, 2024 (Sunday)
Location:Kravis Center for the Performing Arts701 Okeechobee Blvd. West Palm Beach, 33401
Cultural Diversity Day, 2024
Date: Saturday, May 11, 2024
Time: 1:00 PM - 7:00 PM
Location:Royal Palm Beach Veterans Park1036 Royal Palm Beach Blvd Royal Palm Beach, FL 33411
By the Sea Lecture Series at Loggerhead Marinelife Center
Date: Wednesday, May 15, 2024
Time: 5:30 PM - 7:00 PM
Location:Loggerhead Marinelife Center14200 U.S. Highway 1 Juno Beach, 33408
The Magic Of Rob Lake
Date: Thursday, May 16, 2024
Time: 8:00 PM
Location:Kravis Center for the Performing Arts701 Okeechobee Blvd. West Palm Beach, 33401
Sunday on the Waterfront: Slip & The Spinouts
Date:Sunday,May 19, 2024
Time: 4:00 PM - 7:00 PM
Location:Meyer Amphitheatre 104 Datura Street West Palm Beach, Florida 33401
A Delray Beach Family Affair
Date:Sunday,May 19, 2024
Time: 5:00 PM - 8:00 PM
Location:Spady Cultural Heritage Museum170 NW 5th Avenue Delray Beach, 33444
Summer High School Art Competition Exhibit
May 23 - August 9, 2024
Time: 6:00 PM - 6:00 PM
Location: Palm Beach Atlantic University – Warren Library300 Pembroke Place West Palm Beach, 33401
The HARID Conservatory’s 35th-Anniversary Spring Dance Performances
Date: Saturday, May 25, 2024
Time: 3:00 PM - 5:00 PM
Location: Countess de Hoernle Theatre at Spanish River High School5100 Jog Road Boca Raton, 33496
Clematis by Night
May 9: Dee Dee Wilde Band
May 16: Mighty Flea Circus
May 23: The Tim Charron Band
May 30: Wonderama
Important Reminder for
Hurricane Season
West Palm Beach residents can cut down excess vegetation in preparation for hurricane season, and then have it hauled away for free during Vegetation Amnesty Days, May 6-17.
In this month's newsletter, we're thrilled to showcase the exciting real estate opportunities in Palm Beach County. Whether you're dreaming of a waterfront oasis, a charming historic home, or a luxurious high-rise condo, the market has something to offer for everyone. Join us as we dive into the current trends and captivating listings, providing you with a glimpse of the diverse real estate landscape.
West Palm Beach's real estate market in May continued to show strength and resilience. With its desirable location, stunning waterfront views, and a thriving economy, the city remained a sought-after destination for homebuyers and investors alike. The market witnessed a diverse range of properties, including luxurious waterfront estates, charming historic homes, and modern high-rise condos, catering to a wide range of preferences and lifestyles.
Embark on a Community Journey! Together, let's unlock the secrets of real estate and the best our city has to offer. What piques your interest in homes and local adventures? Share your thoughts, and let's tailor our next newsletter with your passions in mind. Your insights are our compass—let's navigate this exciting path as one!