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
Hurricane Isaias is bringing worsening conditions to Gulf Shores, Alabama, with strong tropical storm-force winds and heavy rain. CNN’s Isabel Rosales describes the intense conditions as the storm approaches. #HurricaneIsaias #SevereWeather #Alabama
Concussion protocol? “You just rub some dirt on it.” 😭🛼 Have you been to a roller derby game yet? Let us know below 👇 #rogginreport #coachellavalley #rollerderby #localsports #nbcpalmsprings
New music Friday! Sheryl Crow drops her 12th studio album, “Pick You Up,” while Greta Van Fleet returns with “Palace for the People.” Plus, British indie band The Lilacs release their debut album, “Keeping Up With The Joneses.” Which new release are you listening to first?
🐕 Desert Hot Springs is cutting ties with a dog rescue in Washington state after an animal cruelty investigation involving nearly 30 dogs. The city suspended its partnership with Pittie Project PNW yesterday. Detectives were called to the property on Monday where they found dogs injured, underweight and living in filthy conditions without enough food or water. Investigators discovered that the property's owner, 38-year-old Ashley Georgia, was solely responsible for their care. All of the dogs were removed and are now getting medical attention.
Social Time with Thalia & Jerry
What do you think is really going on here? Drop your thoughts below 👇 #therogginreport #coachella #coachellavalley #localnews #nbcpalmsprings
During the 2025-2026 school year, PEN America reported there were nearly 12,000 book bans in public schools nationwide, the largest number of book bans in a single year since the group started tracking numbers in 2021.
Delta Airlines overhauled its frequent flyer program in 2024. CNN’s Randi Kaye asks Delta CEO Ed Bastian if the airline has made it more difficult for flyers to earn status and if any further changes to the loyalty program are on the horizon.
Social Time with Thalia & Jerry. Favorite Festival?
‘The Hayden’ is back @babysmarche !! John Hayden himself took a trip to the Indian Wells staple for lunch and to chat with @chefjustinsnyder on how it became the most popular item on the menu! #TheHayden