Buying a Home in a Competitive Market Indio CA 92203

Buying a home may be one of the most stressful events in a persons life. Buying a home in a competitive market only adds to the level of stress for home buyers. The real estate market in Indio CA is changing drastically and quickly. The prices in Indio and some of the surrounding desert cities have skyrocketed over the last twelve months, bringing back memories of the real estate market in 2005.

Why have the real estate prices in Indio CA raised so much and so quickly? We can blame most of increase in prices on supply and demand. The old concept applies here, take for example: If everyone is thirsty and there is only one bottle of water left on the shelf, the consumer will definitely be willing to pay more to get that last bottle of water.

Some advisers speculate that banks are withholding inventory under direct instruction from the federal government to not release inventory or to let homes trickle onto the market as a means to keep inventory low. Either way, buyers are certainly taking notice of the reduced inventory and this is creating a frenzy amongst buyers to get in before its to late.

Truthfully we don't know where the housing market is going to go in the next two to three years. Can the government continue to control inventory and keep driving prices? Will the financial industry loosen up the lending regulations?  Will the banks dump the so called shadow inventory back on to the market at one time and bring prices back down? Who really knows!! Something has to give.

Here is what I do know, homes in the North Indio area have seen a 30% increase in the real estate market during the last six months. Interest rates have also gone up from that amazing low of 3.25% up to almost 5%. So what's a home buyer to do? Is it a good time to buy???? Historically the real estate market always cycles so as it goes up, it will for sure also go down. Right now we are still at the bottom of a large swing in an upward direction so I believe that this is still a great time to get in on the real estate market in Indio.

Our team, Ronald Christopher & Associates, focuses on bringing buyers and sellers together. We offer a complete service experience from finding you the home of your dreams to helping you secure the financing. Feel free to contact me or visit our website for any additional information. Click here to see the most current list of Homes for sale in Indio today.