I found this interesting article about Palm Springs real estate today:

The Palm Springs real estate market, along with the rest of the Coachella Valley real estate market, seems to be edging towards recovery, although it will be gradual and difficult. According to a May 14, 2010 article in the Record Gazette, “In the year since Beaumont initiated an economic stimulus plan to spur development, there appears to be evidence that its incentives are working. While the majority of Riverside County saw the number of permits for construction of new single family homes drop 10.6 percent last year, Beaumont boasted an increase of 16.7 percent over its 2008 volume, according to statistics presented at the May 4 city council meeting.” The article by David James Heiss continued to note that “In 2009, there were 350 permits for single family residential units – the highest number of any city in the country, followed by Meifee, which issued 325, and Temecula, with 323.”donovantalk.com, Palm Springs real estate market | DonovanTalk.com, May 2010

You should read the whole article.