According to The Press-Enterprise, a recent study by ATTOM Data Solutions shows that home buying in and around Riverside, California fell 4.7% and recorded the lowest sales in the county since 2014. The experts place the blame on higher mortgage rates, economic uncertainty, and the inability of homeowners to sell their current residence before moving up.
ATTOM Data Solutions found these homebuying trends in 8 ZIP codes covering communities in and around the city of Riverside …
Purchases: Home sales last year totaled 5,130 vs. 5,384 a year earlier, a decline of 4.7 percent.
Who’s up: Prices increased in all eight of this region’s ZIP codes as sales rose in four ZIPs.
Countywide: $370,000 median selling price, up 5.7 percent. Prices rose in 54 of 64 ZIP codes tracked. Sales of 33,722 vs. 36,221 a year earlier, a decline of 6.9 percent. Sales rose in 10 of 64 ZIPs countywide.
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