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Housing rents continue to rise

SoCal housing prices, sales go in opposite directions

Southern California’s median home price was $720,000 in December, a 5.1 percent year-over-year increase, according to data released this week.

Those numbers include new and resold houses and resold condominiums in Riverside, San Bernardino, Los Angeles, Orange, San Diego and Ventura counties, CoreLogic in Irvine reported Feb. 13.

All six counties recorded price increases between December 2022 and December 2023.

The Inland Empire increases were modest: Riverside County’s median price went from $545,250 to $550,000, an increase of 0.9 percent, while San Bernardino County went from $480,000 to $481,500, a 0.3 percent jump.

On the downside, Southern California home sales dropped 5.1 percent during that time, with all six counties posting sales declines.

Year-over-year sales in Riverside County fell 1.5 percent, from 2,596 to 2,557, while San Bernardino’s sales dropped 1.4 percent, from 1,763 to 1,739, Core Logic reported.

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