IE Business Daily Business news for the Inland Empire.
Home sales in California rose slightly year-over-year in July, the fourth consecutive month of growth in that category.
At the same time, sales of existing single-family home sales – 253,170 – dropped six percent compared with June, their lowest point in six months and the 46th consecutive month that number has been below 300,000, according to the California Association of Realtors.
Statewide, the median home price fell to $887,680, down 1.9 percent month-over-month but up 0.3 percent year-over-year.
Sales were up 1.8 percent during the first seven months of 2026.
The statewide annualized sales figures represents what would be the total number of homes sold during 2026 if sales maintained their July pace throughout the year. Those numbers are seasonally adjusted.
“July’s housing market performance reflected the challenges (faced) under the current economic and lending environment, but the market continues to show signs of resilience,” said Jordan Levine, senior vice president and chief economist with the association, in a statement. “Higher mortgage rates and financial market volatility in the past two months weighed on buyer demand, resulting in softer sales activity and subdued price growth.”
In the Inland Empire, the $600,000 median-priced home was down 0.2 percent month-over-month but up 1.9 percent year-over-year in July, while sales were down 11.3 percent from June but down only 1.5 percent from one year earlier, the association reported.
