INLAND EMPIRE – (INT) – In spite of the dark aspects of the COVID-19 pandemic, homebuyers are taking advantage of plunging mortgage interest rates.

Zillow reports that buyer demand for houses remains unquenched so far this month.

Housing highlights in the Riverside-San Bernardino-Ontario metro for the week ending Sept. 5th:

• Newly pending sales are 14.3% higher than last year.
• Homes typically went under contract after 9 days, 15 days faster than last year.
• Total inventory is now down 46.5% year over year.
• The median list price is up 13.7% year over year to $476,975.

And while new surveys show optimism among buyers, sellers and economists, employment is still reeling from high-than-expected jobless claims.

Story Date: September 19, 2020