Palm Spring home prices drop 12%, still unaffordable for many

PALM SPRINGS, Calif. (KESQ) - The median price for a home in Palm Springs has dropped 12.5% to 1.1 million compared to last year, according to the March report from the Greater Palm Springs Realtors Desert housing report. However, even with a 12.5% decrease, some looking to purchase their first home in Palm Springs say it's still not affordable.

Section 14 survivors had proposed a first time homebuyer assistance program to the city of Palm Springs to increase housing affordability and equity, but the plan still awaits approval from the city.

Stay with News Channel 3 to hear from a longtime real estate agent whose also Section 14 survivor about housing affordability in the city.