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Palm Springs Housing Market |
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The Buzz lately is that the Palm Springs Real Estate Market has shifted upwards. Recent pricing is up 10%-15% of what it was a year ago. Inventory is shrinking. A year ago in some areas, there was a supply for 20 months. Today we are seeing in many areas a 3-4 month supply. Overall, prices are generally 50% of what they were in the peak.
What is happening is that the market is stabilizing. People are investing again. The stimulus package has done its job. Foreign money is coming into the market as the dollar exchange rate is favorable for foreign investment. First time buyers are unitlizing low down FHA loans.
There is light at the end of the tunnel!
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