Palm Springs Real Estate Market Trends
And the living ain't easy. It's been over 100° for the past two weeks in the Palm Springs area and the air conditioning is running constantly. Of course, it's a dry heat! LOL.
On the other hand, real estate sales have been downright COLD!
Sales of single-family, re-sale homes are down 35.8% for the year, while attached homes/condo sales are off 27.9%.
A good part of the reason for the drop off in sales is due to the drop in value of the loonie. After reaching near parity a couple of years ago, the Canadian dollar plunged to $0.89 in March. That took a lot of buyers off the playing field. It has since rebounded to over $0.93, but it will have to go higher if we expect Canadians to begin buying again.
We'll have to wait until next season to see.
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C.A.R’s 2014 Housing Forecast
California home sales and prices to rise in 2014 as market transitions toward primary home buyers.
The C.A.R. forecast sees sales gaining 3.2% next year. Sales in 2013 will be down 2.1% from 2012. (Home sales in the Coachella Valley are down 2.6% through November.)
For the full report, plus graphs and statistical tables, visit our Market Trends section, or for real estate market trends for a specific city, try these links: Palm Springs, Palm Desert, Cathedral City, Rancho Mirage and La Quinta.
The Reality of Realty in the Palm Springs Area
Our Community contains some of the most desirable homes in the country. If you are looking for a home in Palm Springs area, this is the place to start.
The Cities in the Coachella Valley
Each city in the Valley has its own unique character. You will find a short profile of each plus economic and demographic statistics for the following cities: Palm Springs, Palm Desert, Rancho Mirage, Cathedral City, Indian Wells and La Quinta.
Are you looking for a list of well-priced properties in Palm Springs, Palm Desert, Rancho Mirage, La Quinta, Indian Wells or Indio? Click on the title of this paragraph to go to our MLS search. On that page, you have the option to tell us what you are looking for so we can set up a custom search in the MLS that will automatically e-mail you relevant homes for sale. Or call me, Greg Bauer, at (800) 975-7720.
Whether you are looking for homes, condos, country clubs, vacation homes, second homes, seasonal homes or investment property, stay up to speed on the market trends in Palm Springs, Palm Desert, Rancho Mirage, Cathedral City, Indian Wells and La Quinta.
For the best in California real estate and resort living, the Palm Springs area can't be beat!
Palm Springs Area or Phoenix/Scottsdale?
Here's an interesting article about Phoenix/Scottsdale. Click here.
To view the most up-to-date news about real estate in the Palm Springs area, visit our blog.
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