Palm Springs, CA Housing Market Report for the week of July 30th, 2012

The median list price in PALM SPRINGS, CA 92262 this week is $325,000.

Inventory is tightening and days-on-market is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.

Supply and Demand

Home sales have been exceeding new inventory for several weeks. However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyer’s market to a Seller’s market.

Prices

Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading
indicator for a trough in prices.

 

Looking for a home or condo in Palm Springs? Claudine is available to help with all Palm Springs Real Estate concerns. Call CLAUDINE TODAY @ (760) 799 5308!



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