Palm Springs Area Summer 2020 Market Update

Dated: 09/15/2020

Views: 722


What’s happening in the market? Well, homes are very affordable thanks to crazy low-interest rates. The only time the affordability index was higher was back when distressed properties dominated the market amid the housing crisis. Right now, prices are increasing; six leading authorities on the housing market produced surveys, and only one predicted depreciation of home values—a modest dip of 0.32%. That same entity then predicted values to rise steadily in 2021 and 2022, so it seems things are headed in the right direction. 

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to skip to topics that interest you most: 

0:52 — Are we headed for a V-shaped recovery? 

1:40 — Record housing affordability and other buyer motivations 

3:45 — Pending sales and new listings nationally and regionally 

5:22 — Average price per square foot is on the rise and the sustainability of appreciation 

6:40 — Homes are flying off the market, and well-priced homes are seeing multiple offers

With all of the market factors combined, it’s a surprisingly great time to make a move in real estate. As always, if you have a question about the value of your home or are interested in buying in this market, we’d be happy to help you out. Reach out to us with a call, email, or text.

This Blog courtesy of Will Cook, WILL COOK GROUP | Keller Williams Luxury Homes, Palm Springs, CA | DRE #01879277 

© 2020 Will Cook Group. All Rights Reserved 

Blog author image

Will Cook

Ranked in the top 1% of all agents valley wide and named one of the Palm Springs Life Top Realtors for 2019, Will is an Associate Broker/Team Leader of the WILL COOK GROUP with Keller Williams Luxury ....

Latest Blog Posts

5 Tips To Selling Your Home In A Sellers Market

If you want to maximize your home sale in this seller’s market, here are the five tips you must remember:1. Create a buzz about your home. You want your home to hit the market with a bang and

Read More

Palm Springs Area Summer 2020 Market Update

What’s happening in the market? Well, homes are very affordable thanks to crazy low-interest rates. The only time the affordability index was higher was back when distressed properties dominated

Read More

What Is The Pulse Of The Palm Springs Area Real Estate Market During The Pandemic

What is the pulse of the Greater Palm Springs Area real estate market during the pandemic? I’m sharing some national news and local data to show how our market is doing amid the health

Read More

What Homeowners Need To Know About The Impending Recession

Yes, the news is grim, but the first step toward operating in a place of calm is to gather perspectives and facts. Today I’m offering both.I’ve been doing some research to better understand how

Read More