The Palm Springs area real estate market had a slow week last week, primarily due to the long Thanksgiving weekend. Our new listings were way down, new escrows were down, and price reductions were down.
The only key stat that was up was the average selling price. Inventory is above 2,100 homes for sale for two weeks in a row, and I anticipate that number will continue to grow in the coming weeks. That's good news for our buyers as they'll have more options than they did earlier in the year.