We are continuing to see a downturn in buyer activity in the Palm Springs real estate market. We fewer buyers making offers and a consistent set of new listings each week, inventory has hit a new high for the year, with nearly 1,500 homes available for sale across the Coachella Valley.

This is starting to have an effect on both days on market and average selling prices as homes are now sitting on the market longer than they did earlier in the year. If we continue at the current pace, we could have over 2,500 homes available for sale by the end of the year.