Can you explain this? Real estate prices for homes in Palm Springs are 16 percent higher compared to July 2019 before the coronavirus pandemic, while sales are 127 percent higher.
What is happening?
Learn the answers at the upcoming Market Watch webinar starting at 8:30 a.m. on August 18. “Sales Are Up…Will It Last?” features a comprehensive three-part look at the Coachella Valley real estate market with Mike McDonald of Market Watch LLC, Walter Neil, CEO of Franklin Loan Center, and Brady Sandahl of Brady Sandahl Real Estate Group.
“What we have happening is an historic event,” says McDonald.
But those kind of numbers beg the question, will it last?
“We think it has legs. We’ll explain why,” McDonald adds.
And yet inventory is at an all-time low, close to 2,000 homes for sale. You’ll find out what that means to housing prices going forward.
Neil will address the impact of COVID-19 on the Credit, Income & Assets test plus the latest information on mortgage forbearance, which is among the topics being debated in Washington, D.C.
Sandahl will talk about potential factors driving sales like pent up buyer demand, motivators like more people working from home, looking for that second home, and investors seeking either short-term or long-term rentals, and how market conditions like low interest rates, rising rental rates, or buyers going for early retirement packages are driving these record sales. For realtors, he will also provide 10 suggestions on how to thrive in the current market cycle.
The webinar is sponsored by Toscana Country Club, Andalusia Country Club, Franklin Loan Center, the California Desert Association of Realtors, and the Palm Springs Regional Association of Realtors.
The webinar registration fee is $35. To register, visit https://register.gotowebinar.com/register/7327315220662751244