INLAND EMPIRE – (INT) – Although barely perceptible, home buyers gained a bit of breathing room in September.

Zillow reports available inventory rose, monthly home value appreciation waned and houses spent an additional day on the market compared to August.

In the Riverside-San Bernardino-Ontario area:
• The share of listings with a price cut is 12.1%, compared to 10.3% in August.
• Listings typically spend 11 days on market before going pending.
• Available inventory grew 3.7% since August and stands 38.5% below pre-pandemic levels in September 2019.

For buyers, typical home values are $518,349, up 27.6% over last year and up 2.2% from August. Inland Empire renters have been hit with a hefty 20% increase the past 12 months now at $2,431.

By comparison, typical home values across the U.S. are at $308,000, a full $200,000 below those of the Inland Empire.

Story Date: November 2, 2021