Realtor Susan Eidler is reporting that home sales in Coachella Valley were down pretty dramatically this December, having dropped 24.5 percent from the previous year.

Eidler reports that average home prices edged up 14.6 percent over November's median to $364,660, which is actually a 1.2 percent decrease from December's numbers last year.

So what's this mean for the future?

Eidler sees pressure increasing on sellers, mainly due to bank sales and short sales. This will continue to put a huge burden on prices as banks rush to get out of their holdings.

And as more foreclosures rack the Palm Springs-Desert Cities area, Eidler foresees no quick end to the slide in prices.

There are bright spots though, says Eidler.

Those looking for a golf course home should have no trouble one, though the foreclosure and short sale rate on those is tiny.

And though new home sales have been struggling, prices seem to be holding their own in Trilogy, La Quinta, a 55+ community.

Published: February 12, 2008

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