Housing prices hold on to pandemic-era gains; supply beginning to outpace demand

A housing report covering April 2025 reveals notable trends in Indio’s real estate market, showing price growth for single-family homes despite valley-wide inventory increases.

Driving the news: The Desert Housing report for last month shows the median price for an average-sized (2,200 sq ft) detached home in Indio is $661,000, up about 4% compared to last year. The median price of a home valley-wide increased for the sixth straight month to $725,000.

For attached housing, the median price in Indio is about $297,000, a 3% decrease compared to last year.

Context: The report notes that detached home prices have held the price gains made during the pandemic. Because the desert is a seasonal market, median prices tend to hit a seasonal high in April or May, and a low in the fall and winter months.

By the numbers: Inventory valley-wide has significantly increased, with 3,799 units available as of May 1 — 1,349 more units than the same time last year. Inventory in Indio is up compared to last year as well, as of May 1 it stood at 452, compared to 331 last year.

The report notes that seasonal patterns suggest that inventory could hit its peak this month.

What else: Homes in Indio and Desert Hot Springs are staying on the market the longest at an average of about 53 days compared to the valley average of 45. Indio homes are selling about 1.8% below asking price.

What that means: The report explained that while inventory has recovered to pre-pandemic levels, lower sales mean supply is beginning to exceed demand. “This should not cause a problem for home prices unless it begins to extend average selling times,” the report notes.

What to watch for: The report said, “The housing market needs lower mortgage rates,” but despite temporary adjustments to tariffs and slowed inflation, the Federal Reserve has not given any indication it will lower interest rates.

What about the rental market: Average rent in the city sits at about $1,450 per month, and rents range from about $924 for a studio and about $2,500 or more for a three-bedroom. According to apartments.com, rent has increased about 2% year over year.