Palm Springs, CA (PRWEB) June 19, 2014
Brad Schmett, Broker Associate with Luxury Homes by Keller Williams today announced that the Coachella Valley is showing definite signs of a welcome real estate recovery as market trends continue to improve. During March the median price for single-family, resale homes was up significantly over last year, marking the 24th consecutive month that the median price has been higher than the previous year.
Additional signs that a recovery is in progress include declining foreclosures, lower inventory, low mortgage rates, and increased building. These are all positive hallmarks when measured against the high foreclosure rates of recent years and building construction at a near standstill for several years in a row. As inventory decreases, the basic law of supply and demand takes over and home prices begin to inch their way up.
Schmett recently commented, “It is very gratifying to see projects, including Griffin Ranch, finally get up and running after the past few years of little or no activity. It does appear that the worst is behind us now and we are on the upswing as home prices continue to rise and we are no longer seeing the extreme fluctuations that plagued us during the recession. The extremely active social calendar in the Coachella Valley brings in tens of thousands of potential buyers all during the year so we are optimistic that the current recovery will only get better.”
Some of the most popular neighborhoods in the Palm Springs area according to several local sources are Baristo, Deep Well, Old Las Palmas, Ruth Hardy Park, Vista Las Palmas and Tahquitz River Estates. All have enjoyed expedient sales of listed homes and continue to be high demand areas for home buyers thanks to perfect locations and superbly crafted homes.
For more information on the Palm Springs Real Estate Market visit http://laquintahomesold.com/signup.html.
To find out more about investing in Palm Springs, CA real estate visit http://palmspringsrealestateinfo.com/.
About Luxury Homes by Keller Williams: Luxury Homes by Keller Williams – Palm Springs, is an exclusive, elite and sophisticated group of real estate consultants raising the bar for service in the Palm Springs area residential real estate market.