Bay County Market Comments for Lynn Haven, Panama City, Panama City Beach

Sales activity increased during the 4^th Quarter of 2016 compared to the previous 12 months. For the 4^th Quarter of 2016, overall sales volume in the Bay County single family market (attached/detached) units was up 5.5% and the standing inventory was reduced by some 5%. On a macro level, the median price change is measured at 1.6% contrasting the previous 12 month period.

The trend line graph below reflects market correction in the single family sector on a macro level.              

Unemployment for Panama City FL Metropolitan Statistical which comprises Bay County, FL declined during 2015. As of December 2015, the projected numbers reflect a 5.1% unemployment rate for the area being down from 6.1% as of December 2014.

Unemployment rates have steadily dropped after peaking in late 2011.