March 28, 2024
Declining affordability weakens home sales
INLAND EMPIRE – (INT) – Decreasing inventory and declining affordability is impacting home sales across Southern California.

CoreLogic reports a sales decline of 2.5 percent for the Inland Empire during May when compared to a year ago. Yet, sales prices keep rising.

The average Inland Empire home sold for $358,500, a gain of $26,000 since May 2017.

Across the 6-county Southern California region, the median sales price of $530,000 was a record.

CoreLogic analyst Andrew Page noted that with the worsening situation for potential buyers, “The number of homes sold has fallen during three of the last five months.”
Story Date: June 26, 2018
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