June 2026 Hi-Desert Real Estate Market Update
Greetings Real Estate Fans,
The weather is heating up. I wish I could say the same for our real estate market. Last month is the first time this year we have closed more escrows than same month last year. Three more to be exact. We closed escrows on 83 homes last month. May is usually one of our best months for closings. I’m a little worried if this is our best, we are in for a tough year.
One thing I have noticed. Homes that are priced right tend to sell. Buyers can see value. Now that value could be the amount of land or the design of the home. But well priced homes do sell more quickly than overpriced homes that have dropped their price. This is a trend nationwide. Get it right as you come out of the gate, and buyers will see value.
I do not see any changes in our market in the near future. At best, maybe fall will see an uptick if the Iran issue gets resolved, inflation turns downward, and interest rates start heading back down. As of today, the national average interest rate is just about 0.10% below same time last year but still averaging over 6.60% for a 30-year mortgage.
Highlights of this Update include-
- Inventory cleared 780 houses last month but dropped on June 1st to 723. I expect our inventory will remain in the 700s throughout the year.
- Average price dropped in all three larger markets.
- Twentynine Palms average price per square foot was back above $200 for the first time in the last three months.
- Twentynine Palms tied Yucca Valley in sales volume
- 81% of homes sold were below $400,000.
I expect we will see a good closing number for June, maybe hit 100 closings. Then I expect the number will decline as the temperatures heat up.
If you know of someone that could use my help in this complex market, please share my contact with them. I would enjoy the opportunity to help.
Sincerely,
Bob Armstrong
(760) 221-2999
DRE #01275801
GREEN Real Estate Group
Bob Armstrong
