IE Business Daily Business news for the Inland Empire.
May was another solid month for the California housing market.
Sales of existing single-family homes rose statewide during the fifth month of the year while the median home price increased for the second consecutive month, the California Association of Realtors reported.
Home sales were up 5.1 percent year-over-year, but were down 3.1 percent from April. Those numbers are seasonally adjusted and annualized, the latter meaning they represent what would be the total number of homes sold during 2026 if sales maintained their May pace throughout the year.
The median home price – $930,260 – was a record high for the second consecutive month, up 3.1 percent year-over-year and up 2.3 percent month-over-month.
Sales were up 2.1 percent during the first five months of this year compared with the first five months of 2025.
“While the statewide median price typically reaches its seasonal peak in May, the recent easing of tensions in the Middle East could bring more buyers back into the market and keep price pressures up at the start of the third quarter,” said Jordan Levine, the association’s chief economist, in the statement.
