Is It Still a Good Time to Buy in Palm Springs? A Local Realtor’s Take

As a Palm Desert realtor born and raised in the Coachella Valley, I get asked this question more than any other: "Is it still a good time to buy?" The answer? Yes — if you know where to look and how to navigate today's market.

Right now, the Coachella Valley is experiencing an increase in inventory, which gives buyers more options and negotiating leverage. In 2021 and 2022, competition was fierce and bidding wars were common. Today, buyers have the opportunity to take their time, evaluate properties more thoroughly, and make strategic offers. While interest rates have increased, they’re still historically reasonable. Plus, with creative financing options like mortgage buydowns or adjustable-rate mortgages (ARMs), buyers can reduce monthly payments while waiting for a future refinance opportunity.

Furthermore, many sellers are now more motivated to negotiate, whether it's on price, repairs, or closing costs. This creates an opportunity to buy well below list price in some cases. Whether you're looking in Palm Desert, Palm Springs, or nearby cities like Rancho Mirage or La Quinta, understanding the nuances of each neighborhood can make a big difference.

Bottom line: if you’re financially ready, there’s no need to wait. Partner with a local expert who can help you navigate the process and find the right opportunity.