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Luxe market snapshot: low inventory, new permits up

A luxury home in Palm Beach
A luxury home in Palm Beach

The luxury market in Palm Beach, frozen by the recession, is scrambling back to life.

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Few spec or custom homes were built on the island in recent years and even renovated homes are scarce, according to builders the Palm Beach Daily News spoke to in a look at the luxury segment. Builders are working intensely to meet the demand of buyers returning to the island, eager for homes in move-in condition.

Demolition permits and new-home permits are up considerably, especially for the North End, where older homes are being targeted for replacement. [Palm Beach Daily News] — Jennifer Karp

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