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Local Real Estate Market Shows its Muscle

May 12, 2020 | Palm Springs Life | STEVEN BILLER
PHOTOGRAPH COURTESY BRADY SANDAHL/KELLER WILLIAMS

Coachella Valley home prices, sales, and inventory show a healthy real estate market in a time of the coronavirus pandemic.

Home prices and inventory appear stable in the Coachella Valley, and indicators — such as leads, showings, and offers — suggest the COVID-19 pandemic is having little effect on the local real estate market, experts said Tuesday during an industry webinar.

"Ladies and gentlemen, we are not in a real estate crisis," Brady Sandahl of Keller Williams told the audience of real estate agents and brokers during the Market Watch Spring Webinar, a Palm Springs Life event. "We are in a challenging market. We've been in a high tide for the last 10 years, and now there's a health crisis, an unemployment crisis, and an economic crisis."

But in the Coachella Valley, Michael McDonald of Market Watch beamed, "Inventory remains contained. There's no rush to sell or put homes on the market." On March 1, there were 3,019 available units on the market in the valley. On May 1, there were 2,924. "Inventory is not increasing, yet," he explained. "If it doesn't rise, it's a good sign."

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