After 2008’s housing market collapse it seemed hard to believe that there would be a way out, but the market is on its way to a slow but steady recovery. According to The Wall Street Journal, the sales of new and previously occupied homes are up from this time last year, homebuilders are investing in more projects, and home prices are rising in most markets. Across the US, new home sales occurred at the highest rate since April of 2010, and sales rose 7.6% in May from April. Along with increase sales, US home prices are also finding their way to better days. For the second straight month 19 out of the 20 cities tracked by the Standard & Poor’s/Case-Shiller home price index showed improvement. Today’s housing prices are roughly similar to the prices of homes in early 2003 which was right on the brink of a great market for homes.
How about the market in sunny Palm Springs? Re-Sale homes have increased by 5.6% from May and the median price has increased by 15.8% since June 2011. The time to buy is now, especially because home prices are still considerably lower than the peak of the housing bubble, but with a steady growth you could be setting your future self up nicely two years from now. The housing inventory is Palm springs is lower than some of the surrounding California cities, but Patrick Stewart Properties has a wonderful selection of homes for sale, all with rich quality and an air of comfortable living. Be sure to purchase â€œtheâ€ home in a heartbeat, and with Patrick Stewart Properties you’ll be sure to find it!
United States Housing Market Information
Palm Springs Housing Market Information