Riverside County home prices increased last month despite a decline in sales from June levels, according to figures released Monday by the California Association of Realtors.
The median price of an existing single-family home rose to $649,000 in July, up 2.2% from $635,000 in June and 3% from $630,000 in July 2025.
Sales in Riverside County fell 13.7% from June and were down 2.6% from a year earlier.
Statewide, existing single-family home sales fell to a seasonally adjusted annualized rate of 263,170 units in July, down 6% from June but up 1.1% from a year earlier. Sales remained below the 300,000-unit benchmark for the 46th consecutive month.
California’s median home price fell below $900,000 for the first time in four months, declining 1.9% from $904,640 in June to $887,680 in July. The median remained 0.3% higher than a year earlier.
“California’s housing market pulled back last month as mortgage rates remained elevated and briefly reached a 12-month high in recent weeks,” CAR President Tamara Suminski said in a statement. “Despite a slower start to the second half of 2026, improved supply conditions in July, combined with the recent decline in mortgage rates, could provide some relief to buyers and give them more options to choose from as the market transitions into the off-peak season.”
Mortgage rates averaged 6.54% in July, compared with 6.72% in July 2025, according to CAR.
Riverside County’s Unsold Inventory Index increased from 3.3 months in June to 3.8 months in July, but remained below the 4.2 months recorded in July 2025.
The median time to sell a single-family home in Riverside County was 39 days in July, up from 35 days in June but down from 40 days a year earlier.
“July’s housing market performance reflected the ongoing challenges under the current economic and lending environment, but the market continues to show signs of resilience,” CAR Senior Vice President and Chief Economist Jordan Levine said. “Higher mortgage rates and financial market volatility in the past two months weighed on buyer demand, resulting in softer sales activity and subdued price growth in July.”
Southern California’s median home price was $899,000 in July, down 0.1% from June but 2.7% higher than a year earlier. Sales across the region fell 8.5% from June and were essentially flat from a year ago, rising 0.1%.