How do we know? For those who came to town this year you noticed the crowds and busy restaurants and the numbers support it. Hotel occupancy was up 9.5 percent during the fourth quarter of 2011, while the number of airport passengers grew by 11.3 percent during the same period. Record crowds were reported for Modernism Week, Dinah Shore Weekend and the White Party. The Tour de Palm Springs had over 9000 riders and the list goes on.
Most importantly, home and condo foreclosures fell 17 percent in February valleywide and real estate sales rose for the eighth month in a row. Local Realtors report the so-called "bottom" of the market appears to have happened last summer. And this may just be the beginning of the renaissance!
