Real Estate Sales rose over all in the month of March and now again in the month of April..over the same months a year ago. In fact, says Data Quick (the real estate info firm), April saw about a 6% jump in the median number for the state of California..to $264,000. In Southern California it jumped even more..about 3.6% to $290,000! So what??? Median doesn’t mean much except that half of the homes sold above that number and half below. Any time the median goes up, you can figure more pricey properties are selling..and that’s a good thing.
In our local Palm Springs Valley, La Quinta especially, I am seeing this in spades. I keep reading obout “shadow inventory”..I say “bring it on!”. We have enough buyers waiting to purchase in our resort Valley to absorb this inventory the banks’ keep promising they have. Where is it? My Short Sales still confuse the poor Lenders to the point where I have to figure whoever is keeping track of foreclosures has no clue.
Back to stats…Foreclosure numbers fell in April to the lowest since April of 2007. What??? Great! Foreclosure filings dropped 5% from March 2012 and 14% from April of one year ago..now that’s significant! If you’re still sitting on the fence about buying a second home or retirement home or investment home in the beautiful Palm Springs Valley..from Palm Springs proper, Rancho Mirage, Indian Wells, Palm Desert, La quinta or as far East as Indio, might be time….just sayin…