Home prices continue to climb

By on August 2, 2017
Home Prices Increase

Inland Empire home prices, including distressed sales, rose by 6.6 percent in June, according to data released Tuesday.

Month-over-month, sales in Riverside and San Bernardino counties were up – 1.2  percent – Irvine-based CoreLogic reported in its monthly report on U.S. home prices.

Nationwide, home prices – including distressed sales – were up 6.7 percent in June compared with June  2016. Month over month, prices were up 1.1 percent in June, CoreLogic reported.

“The growth in sales is slowing down, [but] this is not due to lack of affordability,” said Dr. Frank Nothaft, chief economist for CoreLogic, in a statement. ”[It’s] a lack of inventory. As of the second quarter of 2017, the unsold inventory as a share of all households is 1.9 percent, which is the lowest second quarter reading in over 30 years.”