The summer of waiting here in the Coachella Valley.
The summer of waiting. I thought it was just the Coachella Valley, but now at the end of the summer, it’s clear that it is not a localized phenomena. Buyers and sellers alike are “waiting” For what? I’m hearing they’re waiting for the election to be over, for I rates to come down, for more inventory to come on. Guess what? If all the buyers and sellers are waiting, won’t that mean there will be more buyers coming out at the same time, competing for more inventory yes, but our inventory is so low, and buyers tend to focus on the same things out here in the desert. Hmmm..I have no idea what’s going to shake out, but it just feels strange. Local agent/realtor, Kim Kelly 760-285-3578.
Most of my out of area buyers believe there will be a deluge of inventory here in the Coachella Valley. That will mean they have more choices, and that the sellers will be more motivated to give them a “deal”. I sure hope they are right. From my point of view as a local realtor for 23 years, it means that the properties with the great locations, sun exposure, good floorplans, at the club or local area they want, will still be the ones the buyers are chasing. Those sellers will not have to lower their prices.
Local sellers are choosing to hold back their properties until I rates go down and the elections are over, because they believe there will be more buyers competing for their properties. They are probably correct. We are a seasonal locale, and buyers are pretty much looking for the same product. The good ones always sell! I don’t know what the solution will be, but I suspect 2025 is going to come out roaring in the real estate industry. Take a look at this home in the La Quinta cove that will be available in mid October.
