Cheaper to buy than rent in 78% of major cities

It is cheaper to buy a home than to rent one in 39 of the nation's 50 largest cities, according to a quarterly report released today by Real Estate search and marketing site Trulia.

Trulia's rent vs. buy index compared the median list price with the median rent on two-bedroom apartments, condominiums and townhomes listed on Trulia.com as of April 1, 2011, in the 50 most populous cities in the U.S. While 72 percent of the cities favored buying in the previous quarter's report, 78 percent favored buying in this latest report.

"With home prices nearing a double dip and more foreclosures expected to flood the housing market over the next two years, the decision between renting and buying a home across most of the country has clearly moved in favor of buying," said Ken Shuman, Trulia's spokesperson, in a statement.

"As we head into the summer buying season, those looking to buy a home should be encouraged by improvements in the market and feel optimistic about their chances of finding an affordable home -- much more so than in previous years."

The Real Estate market in the Palm Springs Area has done very well in 2010-2011.  Home sales is up by 11% and Inventory is down by 8.1% according to Rob Zwemmer. 75% of all Home Sales are Bank Owned Homes for Sale ! and short sale Sale properties. The main buyers are still the Canadians with there strong Canadian Dollar.

For a complete list of Bank Owned Homes in the La Quinta or Palm Springs areas visit: http://www.DesertBankOwnedHomes.com/