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The ‘Move Up’ Market Segment

Another sign of an improving market we’ve noticed is that prices seem to be stabilizing for homes and luxury condos priced from $500,000 to $999,999. In our breakdown by city below, note that three out of four of these desert cities showed a price decline of only 0.5% to 1% over the same period of ’08. That said, it is still a buyers market although inventory is starting to tighten up in many communities.

1/1/09 to 8/3/09 Sales by City from $500,000 to $999,999

#1) La Quinta

#2) Rancho Mirage

#3) Palm Desert

#4) Indian Wells

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