The Coachella Valley continued to better national real estate trends as local April sales rose 8.1% and May sales recorded a 7.8% gain over the same months in ‘09. This makes the seventh consecutive month of positive sales gains.
Sales in La Quinta were up 42% in April and 22% in May compared to the same period of ’09. Buyers of resale homes continued to gravitate to the communities of La Quinta, Indian Wells, Palm Desert, Palm Springs and Rancho Mirage which all recorded sales gains.
The latest sales numbers seem to show that the expiration of the Federal home buyer tax credit in April has not effected our desert market as it apparently did in the national real estate market. The second home market in the desert continues to be very active as buyers continue to take advantage of some great real estate opportunities while resale inventory at several key price points continues to shrink.