As a rule, July and August tend to be the hottest months in the desert, and this year is no exception. We have had steady temperatures between 105-120 degrees for the past month. And, while most of the seasonal residents are enjoying cooler weather elsewhere, there has been unusual weather across much of the country this past month.

But, even with warm temperatures and fewer people in the desert, there seems to be enough real estate business happening to stay busy. The bank foreclosures are hitting the market, mostly in the under $1 million price range, which is starting to bring some Buyers back into the market. The high-end and luxury market continues to be more active, but there are still more homes for sale than there should be.

And, with summer here, some Sellers have taken their homes off the market for several months and will wait until the seasonal market starts again before putting them back up for sale. So there has been a reduction in inventory in the 2nd home portion of the market at all price ranges.

Overall, the real estate market here in the Coachella Valley feels pretty good. We have adjusted to a lower number of sales, but there are still plenty of homes being sold. Prices have adjusted downward, but not dramatically. Interest rates remain very low and the economy is good overall. This is a great time to buy real estate in this market!

This month I have included these articles, which I hope you will find interesting:

Thank You for your continued support. If I can be of any help or service, please give me a call!

Sincerely,
Bruce