Real Estate Market in Coachella Valley
Developers and experts believe the real estate market in this prime area in Southern California – where winters are warmer and exotic flora and fauna are found – is back to normal.
According to reports, 286 new homes were built in the area in the first half of 2015. Median price range for these homes is 12 % percent higher than that of 2014.
This is a good sign that means the housing market in Coachella remains tight and sustainable, and the number of home buyers has risen.
Despite these numbers, developers and expertsremain cautious but optimistic about prospects for the rest of the year. Slowly rising house prices reflect the region’s gradually improving price standards
It’s also good to note that of all the areas in California, only San Francisco is showing a steady rise in the price of real estate property.
Now that people are slowly recovering from recession, spending habits have drastically changed. Homebuyers intend to stay longer in their properties so they can make the most out of its price tag.
The challenge of obtaining home financing has made people maximize their stay in their properties by improving it year after year. This means residents can form more lasting friendships with neighbors; children don’t have to go through difficult adjustment periods that come with moving from one place to another.
At the same time, there is a robust demand for new homes. This partly accounts for the area’s gradual recovery and its promising prospects for growth.
A sustainable market is important, now that the region is slowly picking itself up.
More and more developers are addressing this need for steady growth by coming up with more real estate options.
Necessary baby steps are being taken to stimulate this promising market where retirement is a pleasure, and relaxation a joy.