Southern California Real Estate:
Inland Empire Home Prices Rose In June
Some cautious good news for the Southern California real estate market … mixed with some not so good. The Inland Empire is experiencing some rising prices, but slow activity. It seems that average home prices in San Bernardino and Riverside counties climbed a bit in June. This continues a six month trend with the six-county area hitting a 2 year high.
Southern California Real Estate Market
Sees Fewer Foreclosure Properties
The rise is partly attributed to lack of inventory. Elsewhere in these pages we've reported on the fact that there are less foreclosure properties out there … and this has shrunk inventory allowing prices to rise.
Here's an article from the Press-Enterprise:
Debra Gruszecki – "The number of homes sold in Southern California rose for the sixth month in a row in June, and the median price paid for a home in the six-county area hit the two-year high of $300000, a real estate information service reported. …Press-Enterprise"
Sales are still slow. Buyers are still finding it hard to qualify and the rising prices don't mean much if no one buys your well-priced home. Still, southern California real estate buyers and sellers are receiving some good and some not so good news. The southern California real estate market is a mixed bag these days with a generally improving outlook … but things are still slow. At least we're not crashing through the floor anymore.
Southern California Real Estate.