Existing Home Sales Surge In Coachella Valley

The number of existing homes being sold in the Coachella Valley increased 26.5-percent in December over November, according to a report by the California Desert Association of Realtors.

Median home prices also increased. The Coachella Valley’s median home price in December was $177,540, up from $163,270 in November and up from $172,320 in December 2009.

“Sales and prices moving in unison is a good sign. An upward trend line is encouraging, but recovery will still be uneven as it goes along,” said Greg Berkemer, executive vice president of the California Desert Association of Realtors.

This is “season” for the desert, so strong overall seasonal performance is vital to the desert marketplace, he said.

Berkemer said rising median prices are mostly the result of lesser priced properties selling first and the mix of selling prices.

Interest rates are trending up not down. “Buyers should take heed,” he noted.