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Welcome to Another Edition of the REALTOR Report!

Adam Ruiz headshot

I just got back from another conference with colleagues around the country, and the same story continues – inventory shortages and housing affordability remain top concerns for everyone. However, some good news was announced last week that will help with the affordability, and that’s the increase in Conforming and FHA loan limits.

This increase will provide financing options to buyers in our region, giving them access to higher loan amounts while maintaining the same access to lower down payments and lower interest rates. In Riverside County, the new Conforming loan limit is $647,200, and the new FHA loan limit is $562,350. In neighboring San Diego County, the new Conforming loan limit is $879,750, and the new FHA loan limit is also $879,750. This is good news for buyers!

The median home price in Southwest Riverside County had a slight increase of 2% from a month ago ($550,000/$538,000), was up 20% from a year ago ($460,000), and up 39.2% from 2 years ago ($395,000). Unsold inventory is still hovering near 2 months (6 months is considered a healthy market), and days on market crept up again to 11 days, up from 7 days last year but still significantly lower compared to 30 days 2 years ago. Unit sales are down 5% from the previous month and down 3% from last year. Inventory dropped by 10% from last month but is still up 39% from last year. Southwest Riverside County is still presenting solid numbers across the region. Median prices are up in all of our local cities, ranging in an increased range of 6.7%-27.6% Year-Over-Year.

As I mentioned last month, I also attended the National Association of REALTORs® Conference and heard from their Chief Economist, Lawrence Yun. He is forecasting a fairly flat 2022 with a slight increase in interest rates. Remember, this is a National forecast. I have included some of his slides for your reference.

Lastly, I am including a chart showing the economic impact of a typical home sale in California. I know everyone reading this report already understands real estate’s critical role in economic strength, but this is a nice chart demonstrating that. The latest numbers from the National Association of REALTORs® are from 2019. With the increase in home prices in the past 2 years, I feel confident that the impact is even more significant now.

I’d like to wish everyone a very Happy Holiday season! Thank you for your continued support of the real estate community.

If you’d like a copy of my entire report including the mentioned slides, or to be added to the distribution list, please email me at

As always, I am available if you have any questions about the report. Until next month…