Countywide home prices stall, sales plummet in October
Sales of existing homes in Riverside County dropped by double digits last month, while the median price of a single-family home was virtually unchanged, the California Association of Realtors said recently.In October, home sales countywide were down 19.2% compared to September and were off 42% compared to a year ago, according to CAR.The association’s Unsold Inventory Index for October indicated that the median time a property was on the market in the county before it sold was 28 days. Statewide, it was 23 days.“While October’s sales and price results were weaker than what we’ve experienced in the past couple of years and could slow further in the upcoming off-season, the market bottom could be in sight,” CAR President Jennifer Branchini said. “Homes are still selli