We continue to see a rise in inventory in the Palm Springs area real estate market. For the second week in a row, there were over 1,000 homes available for sale in the area, and that trend has continued every week this year.

New listings have remained fairly consistent each week, but buyer activity is down slightly, contributing to the rise in inventory. We are starting to see more price reductions and selling prices are not rising as rapidly as they were during the last half of 2021.