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|May 18, 2013|
Housing market 'rebalancing' as prices rise
SOUTHLAND – (INT) – Home prices are rising the fastest in Riverside and San Bernardino counties.
DataQuick reports that while actual sales prices are the lowest in the Inland Empire, they have risen 17.5 percent over the past 12 months to an average of $206,000. That’s the highest since November, 2008.
DataQuick attributes the price rise to higher demand for new and existing homes. It says the market is rebalancing as forclosures are become a much smaller portion of overall sales.
Nearly 6,000 homes changed hands during November in the Inland Empire.
Story Date: December 16, 2012