PALM SPRINGS CALIFORNIA REAL ESTATE

We’ve seen several articles over the last week or so that point to positive developments in the Palm Springs area housing market. Locally, although median price fell 46.1% (sales rose by 38.2% from a year ago), the median price is up slightly for the month of May ‘09 over April ‘09, confirming the upward trend. The inventory declined from the prior month for the fourth straight, as year over year sales remain brisk. The inventory of homes continues to drop, falling to a 4.2-month supply in May, compared to 8.7 month supply in May 2008.