|July 30, 2021|
Housing inventory improves, but it’s still a seller's market
INLAND EMPIRE – (INT) – Prospective home buyers are finding more options.
A few more homes are going on the market. But, Zillow says demand still far outweighs supply as mortgage rates dropped to near all-time lows in June.
In the Riverside metro area:
• Inventory is up 3.8% from May. It’s down 30.1% since last year
• The typical home is now worth $477,196, up 22.2% ($86,808) over last June and up 3% since May.
• Typical rents are $2,301, up 18.1% year over year and 2.2% since May
Across the U.S., inventory rose by more than 3% for the second straight month accounting for additional listings.
Story Date: July 27, 2021