Southern California home sales drop, median sale price flatlines in November
The median sale price of homes and condos across Southern California plateaued for the sixth month in a row, a new housing report shows. At the same time, sales continued to fall, dampened by rising prices and a short supply of homes.
In Riverside County, 2,934 homes sold at a median price of $275,000 in November, according to DataQuick.
The year-over-year jump in home prices could motivate homeowners to put their houses on the market, creating a surge in the inventory, John Walsh, DataQuick president, said in a news release. Read the whole story here.