Rancho Mirage, California, known to some as the "playground of Presidents," has seen home sales slow.
Despite this, appreciation rates are still expected to be as high as 18 percent for the year -- well above most areas of the nation.
Buyers can expect home prices to mediate around $670,000.
But like many areas of California, where prices rose so quickly in the first half of the decade, foreclosure risks have led to increased short sales.
The good news? A city with relatively low crime -- and a top 100 contender for CNN's "best places to live" in California, is sure to see continued demand in its housing market.
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Published: October 17, 2007
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