IE Business Daily Business news for the Inland Empire.
Southern California’s median home-sale price declined in February to $690,000, a 0.3 percent year-over-year drop, according to data released today.
That number includes new and resale homes and resale condominiums in Los Angeles, Orange, Riverside, San Bernardino, San Diego, and Ventura counties, according to CoreLogic in Irvine.
Not enough houses on the market and low affordability are putting pressure on potential homebuyers in the area, enough that home sales in the six-county region have dropped in by 37.6% since February 2022.
In the Inland Empire, home sales last month were down 43.4 percent in San Bernardino County and 38.4 percent in Riverside County compared with February 2022, CoreLogic reported.
