Riverside Market Snapshot

The number of homes that sold in Riverside during Q2 2019 was 6% below a year earlier. This downward trend continues 2018’s 3% year-end decrease.

Riverside is one of the only metros in the state where the inventory of homes available for sale has fallen. At the end of Q2 2019, 11,100 homes were for sale across Riverside, down 5% from a year earlier.

The average share of listings receiving a price cut in Riverside was 15.7% at the end of Q2 2019, roughly level with a year earlier. This is more promising than the rest of the state, which has generally seen an increase in price cuts.

Interest rates have decreased in recent months, averaging 3.9% for a 30-year fixed rate mortgage (FRM) in June 2019. This average rate is below this time last year, a positive change for homebuyers, as FRM rates peaked in late-2018 and have since fallen back.

Thinking about buying or selling? Contact me for more specifics on buying or selling in your neighborhood!

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