Business, Finance & Tech
Riverside County Home Prices Hold Steady at $640,000 Heading Into Summer
RIVERSIDE, California — Riverside County home prices are holding steady as the local housing market transitions into the busy summer season, according to the latest monthly report from the California Association of Realtors. New data reveals that the median price of an existing single-family home in the county stood at $640,000 in May, remaining entirely unchanged from April's figures and up only a fraction of a percent from the same period last year.
While home prices in the region leveled off, overall sales activity saw a minor shift. Closed escrow sales in Riverside County ticked up just 0.2 percent from April, though overall volume remained down 2.2 percent compared to May of last year. Local real estate experts note that the sluggish sales pace highlights a persistent inventory squeeze, as many current homeowners choose to stay put rather than give up their existing lower mortgage rates, intensifying competition for the few properties available.
The flat pricing trend across Riverside County stands in sharp contrast to the broader California market. Statewide, intense competition for limited housing stock pushed the California median home price to a historic record high of $930,260 last month, representing a 2.3 percent increase from April and a 3.1 percent jump from May 2025. The data also showed that higher-priced luxury markets continue to outperform the rest of the state, with sales of homes priced above $1 million seeing a significant year-over-year increase.
Looking ahead, industry analysts express cautious optimism for both buyers and sellers as the third quarter approaches. While ongoing economic uncertainty and low consumer confidence continue to weigh heavily on homebuying sentiment, a recent easing in mortgage rates could provide much-needed relief. Representatives from the California Association of Realtors indicate that if interest rates continue their gradual downward trajectory, more inventory and active buyers are expected to re-enter the market in the coming months.
Explore NBCPalmSprings.com, where we are connecting the valley.
By: NBC Palm Springs
June 18, 2026
Latest Instagram Posts
Cathedral City City Council votes to rename “LGBT Days” to “Pride Days”. The council approved the change in a 5-0 vote during its latest meeting, updating the official name of the city’s annual celebration. Stay tuned with NBC Palm Springs to see what this means to the Coachella Valley Community #CathedralCity #pride #CityCouncil #CoachellaValley #LocalNews
Discover the Coachella Valley with the Everything Palm Springs app. From iconic attractions and hidden gems to local restaurants, shops, entertainment and even filming locations, the map-based app is designed to help both visitors and locals find more of what the desert has to offer. Creator Lindsay Kinkle is also expanding the app with video tours and narrated guides, giving users another way to explore Palm Springs and the surrounding communities. Local businesses like Buena Matcha are also getting a chance to connect with new customers through the platform. As Lindsay says, there’s so much to do and enjoy here — you just have to know where to look. #PalmSprings #CoachellaValley #EverythingPalmSprings #PalmSpringsApp #VisitPalmSprings DesertLife LocalBusiness CoachellaValleyBusiness NBCPalmSprings
Social Time with Thalia & Jerry
What’s next for Palm Desert? Join community leaders, local businesses and regional stakeholders for the 2026 State of the City Address. Topics: • Economic Development • Infrastructure • Public Safety • Community Programs • Palm Desert’s Future CTA: Friday, September 18 | 11:30 AM JW Marriott Desert Springs Resort
Former Silvercrest CEO, William Rodriguez is expected back in court today in connection with the deadly 2024 Cathedral City hit and run that killed a woman. The murder charge was dismissed, but Rodriguez still faces felony hit and run and suspended license charges.
Social Time with Thalia & Jerry
Murder suspect Vicky Kim has once again not been cleared to appear in court. Kim is accused of killing her husband at their Palm Desert condominium complex. Her arraignment has now been delayed three times. Stay tuned with NBC Palm Springs as we track the latest developments in this case. #VickyKim #PalmDesert #CoachellaValley #BreakingNews #CourtUpdate NBCPalmSprings
Palm Springs is mourning the loss of beloved entertainer James “Gypsy” Haake, who has died at 94. Haake began his entertainment career at just 19 years old as a Broadway chorus dancer. After retiring from the stage, he returned to performing at 82, becoming the host of Carnival Cabaret at Oscars in downtown Palm Springs. A longtime friend of our station, Haake was a familiar and beloved figure in the Palm Springs entertainment community — and his contributions were recognized with a star on the Palm Springs Walk of Stars. His career spanned more than seven decades, proving that the spotlight never truly left him. ❤️ Rest in peace, James “Gypsy” Haake. Your legacy will live on in Palm Springs. #JamesGypsyHaake #PalmSprings #PalmSpringsWalkOfStars #CarnivalCabaret #PalmSpringsEntertainment #OscarsPalmSprings #PalmSpringsHistory
Social Time with Thalia & Jerry
Who makes the NBC Top 3, winner will be announced Sunday night on NBC Palm Springs, with the player who makes the number one spot winning a $250 prize from @hondaofthedesert! Comment below if it will be 1) Sterling Conley with the rushing TD, 2) Marcus Kennedy with the touchdown catch, 3) Cade Pinon with the big time sack, 4) Kingston Pellum with the pick-6, or 5) Caleb Hartwell with the saving throw #fypage #fridaynightlights #football #hondaofthedesert #highschoolfootball