La Quinta & Palm Springs Area Real Estate Market
about a possible government default have had negative effects on both interest rates and consumer sentiment and are directly impacting the housing market. While new home sales continued to improve as tight supply remained an issue in the existing housing market, demand could dip in the short term as rates remain elevated. With consumer spending staying solid and inflation not easing in the latest reading, the housing market could face additional headwinds as the Fed contemplate on having another rate hike in their June meeting.