IE Business Daily Business news for the Inland Empire.
Statewide sales of existing single-family homes totaled 268,180 in December, essentially unchanged from November and up 19.8 percent compared with December 2023, according data released Jan. 17.
December’s statewide median home price was $861,020, up 1.0 percent from November and up 5.0 percent from December 2023, when the median price was $819,820, the California Association of Realtors reported.
Statewide sales numbers are annualized, meaning they reflect what would be the number of homes sold during 2024 if sales had maintained their December pace throughout the year. Those numbers also take into account seasonal factors that usually influence home sales.
For the entire year, sales were up 4.3 percent compared with 2023, while the median price rose 6.3 percent during that time.
“While the housing market is expected to improve further in 2025, stickier-than-expected inflation, the ongoing insurance crisis, and policy changes under the new White House administration are some of the hurdles that could present challenges for the market,” said Jordan Levine, the association’s chief economist, in a statement.
In the Inland Empire, December sales were up 10.1 percent month-over-month and up 7.3 percent year-over-year. The median price of a home – $594,950 – was down 0.8 percent month-over-but up 7.3 percent year-over-year, the Los Angeles-based association reported.
