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4. West Palm Beach, FL
West Palm Beach
Home price forecast (1 year):* -18.5%
The biggest factor in predicting home prices here is slowing population growth. For years West Palm gained residents, up about 19% through July 2006 from the 2000 census. During the 24 months through July 1, 2008, the city's population only gained about 1,000 residents, just over 1%.

Home prices went down nearly 10% in 2009 and more pain is expected in 2010, to the tune of another 18.5%.
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Is this a good time to buy a home in West Palm Beach?
Population:
(2006)
1,274,013
Median family income:
(2008)
$66,000
Median home price:
(2009)
$218,000
Affordability index:
(Median home price/family income 2009)
3.3
Prices peaked in: 2006:Q1
Total climb during the boom:
(2000 to peak)
162.5%
Total decline so far:
(Peak through 2009)
-47.0%
One-year change:
(Q4 2008 to Q4 2009)
-9.9%
Additional price change to bottom: -26.0%
When they'll hit bottom: 2010:Q4
*(Q1 2010 - Q1 2011)
† Data is for West Palm Beach-Boca Raton-Boynton Beach, FL Metropolitan Statistical Area
Notes:
Median home prices are for single-family homes through the third quarter of 2009, the most recent data available, and include sales of bank-owned properties.
Sources: Fiserv and Moody's Economy.com
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