Following is our local Citrus Valley AOR report for last month from C.A.R. Analyst Guillermo Flores. With the homebuying “season” coming to an end, Guillermo said that both sales and prices showed signs of slowing in the latest report. “July sales dipped for the first time in 13 months and the statewide median price failed […]
COVID: Inland Empire Holds Course Despite Surge
COVID cases and hospitalizations are surging again. But neither the governor nor leaders of Inland counties appear inclined to reimpose mask orders, contrary to the advice of some medical and public health experts. What’s changed? There’s now an effective and available COVID- 19 vaccine, and the latest surge isn’t as big as previous spikes […]
Record Prices in Inland Empire
The busiest November in 14 years pushed Inland Empire home prices to record highs. In Riverside and San Bernardino counties, a combined 6,888 residences sold, existing and new, a study of closed transactions by DQNews said. That’s up 22% in a year and the largest November tally since 2006. The region’s homebuying rebound continued in November […]
Tenants Opt for Space, Lower Rents in Inland Empire
After shelter-in-place orders forced the Branchcomb family to study and work from home, their 2,000-square-foot rental house in Cerritos felt more like a tiny box. “Everyone else came home and took my piece of paradise,” said Prophetess Branchcomb, a finance director for a Hollywood entertainment company. “We needed more space.” On Nov. 21, Branchcomb and […]
IE Double the Late Payers
In Riverside and San Bernardino counties, 336,000 adults live in households that are behind on rent due at the end of August, according to the U.S. Census Bureau. That’s 30% of all Inland Empire tenants and almost twice the rate in Los Angeles and Orange counties where 537,000 who live in rentals were late payers […]
San Bernardino County Sees Largest Price Increase
The annual price growth among single-family homes sold across Southern California continued to grow in June, with San Bernardino County leading the gains. The county with the region’s most affordable homes saw a robust price increase last month, according to the California Association of REALTORS®, rising to $310,000, a 5.7% increase from June 2018. That […]
Why Homebuilders Are to Blame for Construction Decline
Southern California builders’ fixation on serving the luxury market — heavy with Chinese buyers — is now a drag on the industry. The year for local homebuilders started in the shadow of 2018 when construction slowed and unsold inventory grew to a near-seven-year high. Industry woes can’t be tied to common complaints such as regulatory […]