This summer's real estate market might not be such a surprise after all
Trends are now appearing as weak as - or weaker than - the previous two summers
One month ago I was hopeful about this summer's real estate market. The data for April 2025 showed home sales were up and inventory was declining compared to the same time in 2024.
We now have data for May and June, and things appear to be going in the other direction. According to the California Association of Realtors data for May:
Median days on market are sticky: they are still relatively high and did not decline April through May as they did March through April
Month-to-month, home sales were down in May in both San Bernardino and Riverside County (in May 2024, they were up in both counties) – see the chart below
Median prices continue to climb, especially in San Bernardino County, which is making affordability worse
More up-to-date data from Realtor.com for June also present signs of weakness. Active listings, another sign of inventory, are up through June in many areas. Inventory is increasing in many markets in both San Bernardino and Riverside Counties, such as Fontana, Ontario, Riverside, and even markets that have fared better through recent turbulence such as Rancho Cucamonga and Temecula. These developments indicate a stronger buyer’s market, as anyone currently looking for a house has more options to choose from, depressing the ability for sellers to get the price they want.
To see, these trends in real time, check out my June 2025 Inland Empire Real Estate Tableau dashboard for charts, maps, and insights from the Realtor.com data here.