Predicting housing market trends can be a challenging task in any region, especially with the US economy being known for its unexpected fluctuations. However, there are some areas that have all the components needed to make predicting trends more of a calculated practice. The Coachella Valley is one such area – thanks to its consistent tourism, booming property development, and a number of other factors.
Positive Indicators for the Coachella Housing Market in 2015
When real estate and economy experts try to predict the fate of a housing market in a particular region within a specific timeframe, the first thing they do is examine the data. In 2014, the Coachella Valley saw an increase in hotel and hospitality businesses, tourism, and land acquisition and entitlement. More permits are being obtained in the area, and more home sales are occurring year after year. The increased number of permits indicates that Coachella is attracting interest from property developers, which goes beyond the usual passive tourism. These are excellent investment trends that point to the housing market being in recovery in the area.
Industry Opportunities Bringing New Money to Coachella
In addition to the blossoming housing market in Coachella Valley, there’s also a huge opportunity for homebuyers who work or invest in the food and hospitality industry. The area has a lot of room for expansion and competition in the restaurant & catering sector, and experts expect to see an influx of new restaurants offering up all kinds of cuisine. There’s also the ever-present tourism industry to cater to, as well as the thriving massage and spa industry that has plenty of room for new competition.
Inland Empire Investors Shifting Towards Coachella
As a developing area along the I-10 corridor, the cities of Coachella Valley are prime targets for investors. Steady tourism and a Southern California location that is relatively more affordable than its Inland Empire counterpart make the valley’s cities excellent real estate targets. This affordability is causing many homebuyers and investors to shift their focus towards the mountain-surrounded valley, which has become best known for nestling the city of Palm Springs.
Building limitations and higher prices in the Inland Empire are pushing a lot of investors and homebuyers to the Coachella Valley, which is really bringing a lot of new investors to the area. Right now Coachella Valley still has all of the makings of a vacation paradise, but with the rate of population growth in Southern California, twenty years from now the area could be much more urban as new properties are developed in the cities of Palm Springs, Desert Hot Springs, Cathedral City, and Rancho Mirage.