Hey all! Dropping in to give you the inside scoop on the real estate market since the summer season has come to an end. According to the latest data released from the U.S. Census Bureau, new home sales for the month of August increased 0.7 percent from July 2009. While this is definitely good news, as it shows that things are looking up in the real estate market as a whole, it should be noted that the August 2009 data was 3.4 percent below the August 2008 data. This indicates that we have not fully recovered to pre-recession strength just yet. Sales are predicted to continue to increase through the fall which will further help the real estate market.

In similar news, the August 2009 average sales price of a new home was $256,800. For the full release, check out http://www.census.gov/const/newressales.pdf

Interested in buying or selling property in Palm Springs or the Coachella Valley? Contact Patrick Stewart Properties today.