The home buying process in Palm Beach County has evolved significantly, with buyers taking more time and viewing more properties before making decisions, according to one local agent who sees a fundamental shift in consumer behavior.
“They’ll look, they’ll view my listings, and then months later, maybe come back visit again. So they want to look at a lot of stuff,” says Jason Litt, Team Leader at Lokation Real Estate. “These buyers want to see a lot of stuff. And with the 30-40-50 listings, they want to go back to a bunch.”
This extended timeline reflects both increased inventory and heightened buyer caution, Litt suggests. While some attribute this to interest rates, Litt sees other factors at play.
“By the time you give the down payment, your mortgage, closing costs, all that good stuff, and then if they got to put on the roof or renovate – I mean, you need six figures for a lot of these homes,” Litt explains. This financial burden makes buyers more deliberative about their purchases.
The result, according to Litt: “I think maybe some nervousness before they really want to pull the trigger, just because it’s an expensive payment.”
Despite more selective buyers, Litt says the market isn’t as soft as some believe. “100% they’re still trying to knock them down, get as much concessions, which I get. They want to get as much as they can. But the market’s not that soft,” he notes.
For buyers seeking deals, Litt suggests looking at specific segments: “You want those deals, get a condo, get a townhouse, get a villa. Those are softer markets. The single family homes – a lot of the owners, they’re hanging tight on their price.”
