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Wednesday, Nov. 16 | ☀️ 72°/49°

It's Wednesday, and we screwed up (and by 'we,' we mean 'Mark'). In our story yesterday on the election results we said Democrat Christy Holstege led Republican Greg Wallis by 10% in the race for State Assembly in the 47th District. But that was her lead in votes counted in Riverside County. As of last night, when factoring in votes across the entire district, she leads by about 1%. We regret the error and beg you not to ask Mark about the time he got the score of the Super Bowl wrong in a headline seen by millions.
 
🎶 Setting the mood: "King" by Florence + The Machine (in honor of the Grammy nominations).

Leading off: Home sales dropping, inventory up

The housing market is readjusting to the fed’s increase in interest rates, and the Coachella Valley is not exempt. Prices are still increasing, but much slower than last year, and the number of sales continues to drop.

Driving the news: The median price of a detached home in the Coachella Valley in October was $675,000, which was $5,000 higher than in September and 12.5% higher than a year ago.

  • In Palm Springs, the price of an average-sized home was about $1.2 million in October, roughly 6% greater than one year ago but slightly down from September.

By the numbers: The three-month average of Coachella Valley sales in October was 534 units a month, 34% below last year and 28% below the pre-pandemic average.

  • Palm Springs, Cathedral City, and La Quinta had the highest percentage of year-over-year declines.

Why now: Analysts say current market is explained by a combination of regular seasonal factors and the fed’s increase in interest rates. 

Regarding inventory, the valley stood at 2,048 available units on Nov. 1, an increase of 241 units compared to the month prior and 1,133 units more than a year ago. 

  • The increase in inventory is opposite to almost every other California region, where stock generally declined last month.

What they’re saying: Analysts who wrote the report want buyers and sellers alike to manage expectations.

  • “It is important during times like this to follow the data and not the many alarming comments people often make,” the report stated. “[I]t’s hard to ignore the effects higher interest rates are having on both buyers and sellers.”

Dive deeper with our complete story.

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The Roundup

🗳️ Some races of local importance remain extremely close following more ballot counting Tuesday, but no additional ballots were counted in City Council races. (Palm Springs Post)

🏠 An elaborate Palm Springs home that pays homage to Sin City's old-school luxury — specifically the famed Caesars Palace hotel — is on the market for $11.8 million. (SF Gate)

⛰️ Curious about the Tahquitz Canyon Visitor Center? Learn how it clinched architect Lance O’Donnell’s love for modern architecture and became a gateway to sacred land. (Palm Springs Life)

Today's calendar

Morning Coffee Book Club
10:30 a.m. | Welwood Murray Memorial Library

Join the Morning Coffee Book Club where Scott Biegen, a PSPL librarian (and English teacher in a previous life), leads a monthly book discussion. 

PALS Seminar
4 p.m. | Online

PALS (Planning Ahead for LGBTQ Seniors) is presenting a seminar titled "Own Your Future: Seven Essential Conversations You Must Have Now" via Zoom.

Svetlana Portnyansky
4 p.m. | Temple Sinai | Palm Desert

Jewish Family Service of teh Desert Auxiliary presents a performance of this cantor and internationally acclaimed singer. ($50-$125)

Public Arts Commission
5:30 p.m. | Online

The Palm Springs Public Arts Commission holds its regular meeting tonight via Zoom. See the complete agenda here.

“Pandemonium and Paradise: New York City 1970-1990”
5:30 p.m. | Mizell Center
This photographic journey captures a tumultuous time in NYC history:  arson, crime, sexual abandon, crack disco and AIDS. ($10)

Martinis and Moxie: Viva Las Vegas
6 p.m. | Cultural Center
Join Alan Kraemer and Claudia Ried, along with a few very special guests, for a rowdy rollickin’ rock n’ rollin’ fall season of Martinis and Moxie. ($55)

Submit Your Event

Looking ahead

Country dancing
Friday | 7:30 p.m. | Step by Step Dance Studio

Join the Palm Springs Country Dance Association for another great night of country western dancing, including two-step, country waltz, shadow, East and West Coast swing and line dances. 

Tahquitz Creek Cleanup
Saturday | 8 a.m. | South Riverside Drive at Camino Real

The monthly Tahquitz Creek cleanup is Saturday, October 19. The cleanup will start at 8 a.m. Trash bags, water, disposable gloves, and pickup sticks will be provided. 

Junior Ranger Expo 
Saturday | 10 a.m. | Indian Canyons
Come and learn about the wonders of the Indian Canyons. Explore the critters that inhabit and the plants that surround. Listen to the songs that have echoed throughout these canyons for generations. Register here.

See our complete community calendar here.

And finally...

Know a person or organization that deserves recognition in Palm Springs? The city has just the right way to bestow the honor.

Driving the news: The Palm Springs Human Rights Commission is inviting Coachella Valley residents to submit nominations for its annual Community Service Awards that recognize individuals and organizations for “Promoting Universal Human Rights Close to Home.”

  • "The Commission is interested in learning about any local citizens or organizations that have worked or volunteered to foster equality, ensure human rights or have fought against hate crimes or any kind of ethnic, religious, sexual or other types of discrimination," read a news release from the city that was issued Tuesday.
Details: To submit a nomination, fill out this form and email it back to Jay Virata at Jay.Virata@palmspringsca.gov
  • Nominations must be received by Friday, Dec. 9.
Next steps: The Commission will present the awards at a meeting on Monday, Feb. 13, 2023. It will be held at 5:30 p.m. in the Council Chamber at City Hall. The public is invited to attend.

In case you missed it

Recently published stories

🥕 Kendall spent all night trying to find the best veggie side dish recipes for Thanksgiving.

🙏🏻 Mark has covered 70+ elections in his life and, until yesterday, had not committed a math error that made it into publication. He should have quit while he was ahead.

📝 Miss a day? Read past newsletters here.

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