Hot Summer & Low Inventory = Sales & Prices Rising!

Who would have thought that during these hot (115 degrees +) summer days we would still be having sales in the Desert?  But that is exactly what is happening.  The inventory has never been lower, so buyers are still coming out to find their Desert home while there might still be one available.  And if one goes on the market now, it is being sold quickly.  In addition, the prices are starting to come up due to this high demand and low inventory, and   unfortunately, we are starting to see an upward change in the interest rates as well.  One of the reasons for this rate increase  is the fact that there has been speculation that the Fed may begin to taper its Bond purchase program known as Quantitative Easing.  That is the Fed’s Bond purchase program that has helped Bonds and home loan rates remain attractive. Currently the interest rates are still historically low in the 4% range, but the fact that they have begun to rise, and could continue to go higher,  is a concern to potential buyers.   For all these reasons, it appears that now is a great time to grim and bear it—–come to the Desert even though the temperatures are not totally comfortable, and find that Desert Home you have been looking for while it is still available and affordable!


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