By Kamesha Keesee
Top 5 hottest markets in Inland Empire 2021
T
he housing market in the Inland Empire heated up after the Federal Reserve decided to cut interest rates. So hot is the market that it ranked fourth in February as the hottest real estate market out of twenty-five metropolitan areas. The reduced interest rates greatly motivated first-time homeowners and millennials to get into the housing market, leaving their renting days behind. These favorable factors created an environment that saw the demand for homes go up, and so did prices. Unfortunately, the inventory available is not much for the available supply. The construction of new single-family homes has gone up in the Inland Empire, playing in favor of the housing market by sating to some extent the housing market. Unfortunately, the construction of multi-family homes has dropped, posing yet another challenge. But with the vaccine rollout, the economy is recovering, and the housing market in the Inland Empire continues to simmer on. Some of the hottest real estate markets in Inland Empire include the following:
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over the list price and 9% for very hot homes. Homes in the valley have a median list price of $460K, a 27.8 % increase from last year. Sales $/ Sq. Ft. have also gone up 29.8% to $266. 2. CORONA. Homes in Corona have a median listing price l
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1. MORENO VALLEY. Moreno Valley has probably the most competitive housing market in all of the Inland Empire with an 83 out of 100 score on Redfin’s Competitive Score. Houses on the market only spend at least 11 days on the market and 5 days for the hot homes. People buying homes in Moreno Valley have to pay approximately 5%
