In May 2012, 45 new homes sold in the Coachella Valley, up from 32 homes sold in April 2012. The median price was $236,250.
The rise in new home sales is seen by many economists as the bellwether of consumer confidence and job creation, as well as an indication that the housing market is gradually returning to normalcy.
The shortage of homes for sale could spark a surge for construction of new homes next year and push up prices.
There are plans to open new home communities in La Quinta, Palm Springs, Palm Desert, and Rancho Mirage.
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