sales: The New Home Supply Falls To 5.6 Months
- 02/28/12 04:56 AM
Foreshadowed by February's Homebuilder Confidence survey, which rose to a 4-year high, the Census Bureau reports new homes are selling more quickly than builders have built them, lowering the national "home supply" to levels not seen since 2006. A "new home" is a home that is considered new construction and, at the current pace of sales, the nation's entire new home inventory of 151,000 homes would be sold in 5.6 months. Anything less than 6.0-month supply is thought to connote a "sellers' market". 321,000 new homes were sold last month on a seasonally-adjusted, annualized basis. 7 of 10 new homes sold for less … (0 comments)
sales: Palm Springs Housing Market Continues Improvement
- 04/25/10 03:22 AM
Palm Springs Housing Market Continues Improvement: There is no question the housing market has been in an upward slope over the past several months. While the economy is very slowly improving, the real estate market is warming up at a much quicker pace. This is especially true for Coachella Valley, as a new report from MDA DataQuick shows that prices and sales are rising. There was a large increase in the median sales price along with the amount of homes sold. In that month the median sales price of new and single-family homes rose by 11 percent. With this, the average … (2 comments)
sales: Home Sales Rise For The Second Month In A Row For Coachella Valley
- 09/23/09 07:21 AM
Coachella Valley continues to show signs of improvement in the Palm Springs Real Estate market with another stellar month in July. Despite triple-digit temperatures and a credit market that was sure to scare home buyers away, home sales still rose by a tremendous 17.4 percent. This marked the second month of double-digit gains. While things are looking up for home sales, the median price is unfortunately still looking down with a less than impressive $180,000 median. The last time it was this low was all the way back in 2001 and is much lower than the median price of $274,000 just … (3 comments)
sales: Short Sales and Foreclosures in Palm Springs
- 04/21/08 04:55 AM
I am noticing a lot of short sales are selling at very close to full price and some of the better ones may have several offers on them. The market here has changed a bit. The good bank foreclosures also have multiple offers as well. I have several clients that are waiting for the bank to sort through the offers and get a response; it is not for the faint of heart and can take two to four months or more to complete a short sale. Foreclosures are tricky also and most people don't know that the bank can get an … (0 comments)
Foreshadowed by February's Homebuilder Confidence survey, which rose to a 4-year high, the Census Bureau reports new homes are selling more quickly than builders have built them, lowering the national "home supply" to levels not seen since 2006.
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