May 27 Daily Briefing: Housing report, budget issues, hit-and-run, and more

Happy Tuesday, where we’re back in the office and kicking off our summer fundraising campaign. We’re a small newsroom that relies on our readers to support our work when they can. Over the next week, we’re hoping 80 of our loyal readers will sign up as monthly supporters and help The Post build a sustainable future for local news in Palm Springs. Will you join us?

LEADING OFF

Palm Springs home prices drop 3.8% while valley-wide inventory surges

The housing report covering April 2025 reveals notable trends in the Palm Springs real estate market, showing prices declining slightly compared to last year. 

Driving the news: The Desert Housing report for last month shows Palm Springs had the greatest price decline of any valley city, with the median price for an average-sized (2,175 sq ft) detached home dropping to $1.32 million, down about 3.8% compared to last year.

• The median price of a home valley-wide increased for the sixth straight month to $725,000.

Context: The report notes that valley-wide, home prices have held the price gains made during the pandemic. Because the desert is a seasonal market, median prices tend to hit a seasonal high in April or May, and a low in the fall and winter months.

By the numbers: Inventory valley-wide has significantly increased, with 3,799 units available as of May 1 — 1,349 more units than the same time last year. Palm Springs had the greatest inventory of any valley city, with 872 homes for sale as of May 1, compared to 630 last year.

• The report notes that seasonal patterns suggest that inventory could hit its peak this month.

What else: Homes in Palm Springs were the second fastest selling in the valley, with an average of 45 days on the market.

Wrap up: The report explained that while inventory has recovered to pre-pandemic levels, lower sales mean supply is beginning to exceed demand.

• “This should not cause a problem for home prices unless it begins to extend average selling times,” the report notes.

What to watch for: The report said, “The housing market needs lower mortgage rates,” but despite temporary adjustments to tariffs and slowed inflation, but the Federal Reserve has not given any indication it will lower interest rates.

• Officials indicated the possibility of only one rate adjustment this year, and if one were to come it would be sometime in the fall.

Read our full story

BRIEFLY

💰 City could face large budget deficit by 2027

Palm Springs city officials projected a nearly $10 million operating deficit by fiscal year 2026-27 during a budget study session last Thursday, with Finance Director Chris Mooney warning the city faces a $1 million deficit in 2025-26 that will grow to $9.9 million the following year.

• The financial challenges stem from expiring state grant funding for the Navigation Center homeless services facility, which will leave the city responsible for more than $5 million in annual operations costs when Homeless Housing, Assistance and Prevention grant funds end in May 2026.
  
• City Manager Scott Stiles announced plans for a hiring freeze on non-public safety positions, with approximately 50 vacant positions that may remain unfilled. The city’s unassigned fund balance is projected to drop from $52.6 million currently to $18.3 million by 2027.
  
• Bottom line: Despite the deficit projections, the proposed budget includes funding for three new police officers, three firefighters, a $42.5 million library renovation and street maintenance programs. The City Council will continue budget discussions June 11 and June 25, with final approval required by July 1.

Read our full story

🚨 Police investigating fatal hit-and-run

A woman died after being struck by a vehicle in a hit-and-run collision May 23 at the intersection of East Palm Canyon Drive and South Camino Real. Police responded to the incident at approximately 11:45 p.m. and found the unresponsive victim in the roadway before she was transported to a hospital where she later died.

• The suspect vehicle was described as a dark gray Toyota sedan that fled the scene before officers arrived. The driver remains at large and the collision is being investigated as a hit-and-run.
  
• Bottom line: The Palm Springs Police Department is asking for public assistance in identifying the suspect and vehicle involved. Anyone who witnessed the incident or has information is urged to contact 760-323-8125 or submit anonymous tips through Crime Stoppers at 760-341-STOP.

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TODAY’S FEATURED EVENTS

Cribbage play
1 p.m. | Play Lounge & Cafe
Bring your friends or meet new ones at this casual hangout. Play Lounge has a few boards available for use or you can bring your own.

Grounding After Crisis
4 p.m. | Scott Hines Behavioral Health Clinic
The clinic is inviting anyone impacted by the recent Palm Springs terror attack to come to their drop-in free of charge community therapy session. No prior reservation needed.

PSUSD Board of Education Meeting
6 p.m. | PSUSD headquarters
The Board of Education meetings tonight. The agenda is typically posted here. 

Trivia Night
6:30 p.m. | Play Lounge PS
Come alone or bring a group to participate in this popular trivia night. Win bagging rights and other prizes.

Bill and Ted’s Excellent Adventure
7 p.m. | Downtown Park
This free screening is part of the Movies in the Park series hosted in part by the City of Palm Springs, P.S. Resorts, and the P.S. Chamber of Commerce.

See all events here

SAVE THE DATE

• Home Movies Out of the Closet on Sunday at the Cultural Center.
  
• Forever Marilyn Community Celebration at the Marilyn statue in Downtown Park on Sunday.
  
• South Palm Canyon Drive bridge project meetings in person on Thursday and virtual on June 2.
  
• Miralon Blood Drive with LifeStream Blood Bank at Miralon on Friday.
  
• 2025 Greater Palm Springs Restaurant Week starts Friday.
  
• Palm Springs Equality Wine & Food Fest on June 7.

Submit your event here

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AND FINALLY …

🐾 Each week, The Post partners with a local animal shelter to feature one or more of the many animal companions ready for a new home in our community. 

Today, we invite you to meet the Luca,  a one-and-a-half-year-old domestic shorthair. He’s new to the palm Springs Animal Shelter but ready to move to your home now. 

If you’re interested: You can visit the shelter at 4575 E. Mesquite Ave. Hours are 11 a.m. until 5 p.m. on all days except for Mondays (open for intake only) and Thursdays (1 p.m. until 7 p.m.). You can always call the shelter at (760) 416-5718.

• Make sure to check out all the other pets at the shelter here.