Just saw this article in the LA Times regarding the recent boom in sales in the Phoenix area.  Click here for more info.

This is not too different that what we're experiencing in Palm Springs.  With prices at an all time low, well priced listings are selling often over asking, and often with multiple offers.  I have had two clients lose out on deals this past week alone, for bidding below asking on properties that were just listed- (against my advice.)  Both properties were sold with multiple offers over asking.

I think there are definite signs that things are picking up!