Palm Springs Real Estate News
Palm Springs
California Home Sales Dip 3 Percent Annually in June
California home sales remained stagnant for the second consecutive month in June 2024, as the 30-year fixed rate mortgage remained above 7 percent throughout most of May, when most of these sales opened escrow.
Only 17 Percent of Current Residents Can Afford to Buy a California Home in 2024
The California Association of Realtors is reporting that only seventeen percent of the state's homebuyers could afford to purchase a median-priced, existing single-family home in California in the first-quarter 2024.
California Home Sales Remain Stalled in October
Based on new data from the California Association of Realtors, California home sales were essentially flat in October 2023, as the cost of borrowing remained elevated and housing inventory continued to be tight.
Hurricane Hillary Put 1.55 Million U.S. Homes at Elevated Flood Risk This Week
As Tropical Storm Hilary now substantially weakens this week, real estate data provider CoreLogic estimates that approximately 1,553,803 residential homes in the western U.S. were at an elevated risk of inland riverine flooding over the last few days. This includes both single- and multifamily residential properties.
