IE Business Daily Business news for the Inland Empire.
Southern California home sales were static in February while median prices in the region continued to rise.
Sales of new and existing houses totaled 15,189 last month, an increase of 0.6 percent from February 2017, according to data released by Irvine-based CoreLogic.
That was the highest number of sales for the month of February in five years, but it was only slightly higher than the sales figures of February 2016 and February 2017. The 0.6 percent increase also matched the average change-in-sales rate between January and February dating back to 1988, CoreLogic reported.
The median price for a home in Southern California last month was $506,750, a year-over-year increase of 10.2 percent.
In the Inland Empire, home sales were up 1.4 percent in Riverside County and 2.8 percent in San Bernardino compared with February 2017.
Median prices were $375,000 in Riverside County and $336,500 in San Bernardino County, which were year-over-year increases of 8.7 percent and 16 percent respectively, CoreLogic reported.
