Through the second quarter, buyer activity continued to accelerate, and sales activity was up by roughly one-third from the beginning of the year. Sales of single family homes surged in many counties along the East Coast of Florida, with the condo segment a bit lackluster. In south Florida, single family home sales increased substantially in the lower price tiers. However, in Brevard, Broward, Miami-Dade, and Palm Beach counties, closed sales greater than $3 million surged during the second quarter. Within the condo segment, sales trends diverged. Lower-priced unit sales increased as price reductions offset rising mortgage rates to pull some buyers off of the sidelines. At the same time, shifts in investment patterns and offshore capital helped to reduce buyer activity in the upper pricing tiers. The exception was Palm Beach County where the highest number of condo units priced greater than $5 million sold in the last ten years. In northeast Florida, the greatest surge in single family home sales was in the mid-tier price range, roughly between $750,000 and $1.25 million. Sales in the highest price ranges were flat from last quarter. During the second quarter, pricing moved higher yet was somewhat mixed between the single family and condo sectors as well as within each region. In some neighborhoods, fewer sales at the upper end of the pricing spectrum led to weaker average prices. While homes generally spent less time on the market, there were few neighborhoods where buyer competition led to sales greater than the list price.