Home Sales Up in Riverside County, Statewide

RIVERSIDE (CNS) - Home sales rose significantly last month in the
Inland Empire and statewide as slightly more favorable mortgage rates
encouraged buyers to enter the market, the California Association of Realtors
announced today.
  

Sales of existing, single-family homes in California totaled 274,820
in February on a seasonally adjusted annualized rate, up 7% from January's
total, but down 0.3% from February 2025.
  

In the Inland Empire, sales were up 9% from last month, but down 3.7%
from last year, while in Riverside County sales were up 20% from January but
down 4% from February of 2025.
  

``Following a soft start to the year, the housing market regained
momentum in February, with both sales and prices showing solid gains,'' CAR
President Tamara Suminski said in a statement. ``The conflict in the Middle
East is creating some uncertainty for the broader economy and financial
markets, which could lead to some short-term hesitation in the housing market.
We remain hopeful though that the situation will stabilize in the weeks ahead,
allowing market fundamentals and buyer and seller confidence to reassert
themselves.''
  

Statewide prices were also up last month, with California's median
home price rising 0.9% from January to February, to $830,370. That represents a
0.2% increase from one year ago.
  

In the Inland Empire, the average price rose 1.1% in February to
$601,350, 1.6% lower than February 2025. Riverside County's average price was
down 1.3% last month to $631,000, which is 2.4% lower than one year ago.
  

``While mortgage rates remain below year-ago levels, they recently
jumped to their highest level in seven months and could temper buyer momentum
as we head into the spring homebuying season,'' CAR Senior Vice President and
Chief Economist Jordan Levine said. ``However, many homeowners remain locked in
to historically low rates, and inventory remains tight, so any stabilization in
rates could help bolster home prices in the spring market despite ongoing
affordability and economic challenges.''
  

The county with the highest median home price in California in
February was Mono County at $2.35 million, after increasing 50% from last
month. The lowest median price was Lassen County's $199,000, after a 22% drop
from last month.
  

Copyright 2026, City News Service, Inc.