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Inland Empire Housing Market

By Jesse Gundersheim

Home prices in the Inland Empire soften as sales slow with population growth

Prices in the Inland Empire are down a modest 1.8% from their peak reached a year ago, while sales volume remains tepid. Demographic drivers have weakened, and elevated interest rates are weighing on both buyer demand and supply.

Sales slow counter to the national trend

The Inland Empire’s housing market showed signs of cooling in April, with sales slowing due to affordability pressures and weaker population growth. Elevated mortgage rates have constrained purchasing power, keeping some prospective buyers on the sidelines. Additionally, local population growth has slowed with limited international immigration. Home sales declined from the prior year, falling 2.8% to 3,716 transactions, underperforming the national increase of 0.6%. Single-family sales were down more sharply, by 4.9%, while townhome and condo sales activity rose.

Supply declines at one of the fastest rates among U.S. markets

Limited supply continued to hold back the market, as many homeowners stayed put, locked into lower mortgage rates and monthly payments. As a result, buyers have been reluctant to list their homes, and fewer homes are available for sale. Active listings declined 8% year over year to 16,340 homes, placing the Inland Empire among the weakest markets for inventory change among the largest 40 U.S. markets. The decline in listings was driven primarily by a drop in single-family inventory, while townhome listings rose and condo listings were nearly flat. Overall listing inventory remained significantly below pre-pandemic levels, down 26.7% relative to April 2019.

Pricing softens, with Inland Empire underperforming coastal Southern California markets

Price trends reflected a modest softening following recent highs. While demand has cooled, limited inventory has continued to provide a floor for home values, preventing a sharper decline. The median home price decreased 1.8% over the past year to $585,000, a reversal from national trends where prices continued to increase modestly. The Inland Empire also stands out as a lagging market in Southern California, underperforming Los Angeles, where prices increased by 2.6% year over year, and San Diego, which posted a 1.7% price gain.


Dashboard showing Inland Empire home sale prices averaging $585K, while over 16,000 listings were active and more than 3,700 sales closed.
In April 2026, home prices in the Inland Empire averaged $585,000. There were 16,340 active listings in the market, and 3,716 sales closed.


Inland Empire Sale Prices

The median home sale price in the Inland Empire decreased by 1.8% compared to the same time last year, while the national median price rose by 1.7%.

Inland Empire ranks 33rd for annual median price change among the top 40 U.S. markets

Inland Empire median home prices decreased by $10,995 year over year on a nominal basis in April to $585,000. Meanwhile, the national median home price increased by $6,500 to $390,000.

Inland Empire’s median home price is above the nation’s

The Inland Empire was the 10th highest-priced housing market among the top 40 largest markets last month. The Inland Empire median home price of $585,000 was 50.0% above the national median home price. Inland Empire's median home price in April compares to the market's peak of $595,995 recorded in April of 2025.

Inland Empire single-family prices decrease

The median price of Inland Empire single-family homes fell $9,500 over the past year to $600,500, while the median townhome price declined 0.9%, and the median condo price rose 2.6%.


Dashboard showing Inland Empire home prices at $585K, down 1.8% annually, lagging U.S. growth, ranked 11th nationally.
As of April, Inland Empire home prices averaged $585,000, down 1.8% year over year or roughly $11,000, underperforming the U.S., which rose 1.7%, with price levels ranking 11th nationally.


Bar chart of Inland Empire prices from 2018 to 2026, reaching a peak in 2025 peak and down slightly year over year, but rising in recent months.
Sale prices in the Inland Empire were down slightly from their peak reached a year ago in April 2025.


Area chart showing annual price change in the Inland Empire from 2018 to 2026, now slightly negative, down nearly 2%.
Year-over-year pricing in the Inland Empire turned slightly negative in 2026, down nearly 2% in April after modest gains in 2024 and 2025.


Bar chart of April price changes in the Inland Empire, showing a recent decline of 1.8% following prior positive years.
Prices in the Inland Empire fell 1.8% year over year in April 2026, reversing gains from prior years and marking the weakest April performance since 2023.


Bar chart comparing home prices across U.S. markets, showing the Inland Empire mid-range at $585K, below the top coastal markets.
At $585,000, the Inland Empire ranks 11th among the top 40 U.S. markets, well below coastal leaders but above many Sun Belt markets.


Bar chart of annual April price changes by market, with Inland Empire pricing down 1.8%.
Inland Empire home prices declined 1.8% year over year in April, placing it among a smaller group of markets with annual losses.


Dashboard comparing property types, showing in the Inland Empire single-family pricing and townhome pricing both down, while condo pricing increased.
Single-family pricing in the Inland Empire averaged $600,500 in April, down 1.6% year over year, and townhome pricing averaged $554,995, down 0.9%. Condo pricing averaged $497,500, rising 2.6%.


Bar chart comparing prices and year-over-year growth by property type, showing in the Inland Empire condos have the lowest prices but the highest year-over-year growth.
Single-family homes in the Inland Empire remained the most expensive at $600,500, while condos were the most affordable and the only segment to see a year-over-year price increase.


Inland Empire Inventory

The number of active listings in the Inland Empire decreased by 8.0% in April compared to the same time last year, while national active listings rose by 6.3%.

Inland Empire’s inventory of homes for sale decreases

Inland Empire active listings fell by 1,420 year over year in April to 16,340 active listings. Inland Empire ranked 38th, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in April.

Inland Empire’s active listings are below pre-pandemic levels

Inland Empire active listings were below their pre-pandemic levels in the month of April. Inland Empire active listings were 26.7% below the April 2019 total of 22,298.

Inland Empire single-family inventory decreases

Inland Empire single-family active listings decreased by 10.6% to 13,346 in April. In comparison, townhome active listings rose by 27.1% to 676, and condo active listings increased by 0.6% to 2,318.


Dashboard showing Inland Empire listings down 8% to 16,340, lagging U.S. inventory growth.
Active listings in the Inland Empire fell 8.0% year over year to 16,340, sharply diverging from the 6.3% increase nationally.


Column chart of Inland Empire active listings, showing that listings are rising seasonally, but still down year over year.
Active listings in the Inland Empire reached 16,340 in April, still trailing year-ago levels.


Area chart showing the year-over-year change in active listings in the Inland Empire from 2018 to 2026, now declining after increases in recent years.
Listing inventory in the Inland Empire declined again in 2026, after surging in 2024 and 2025, reflecting tightening supply conditions.


Column chart of April year-over-year listing changes in the Inland Empire, showing an 8% decline in April 2026 after a large prior year increase.
Active listings in the Inland Empire fell by 8% year over year in April 2026, reversing a strong increase in April 2025, and signaling renewed supply constraints.


Horizontal bar chart of active listings in the top 40 U.S. markets, with the Inland Empire ranking mid-tier with approximately 16,000 listings.
With 16,340 listings, the Inland Empire ranked toward the middle nationally, well below large Texas and Florida markets, as well as adjacent Los Angeles.


Bar chart of listing growth by market, showing the Inland Empire falling 8% while most other markets saw an increase.
Inland Empire posted an 8.0% year-over-year decline in listings, ranking it among the weakest-performing markets for supply change.


Dashboard showing listing changes by property type, with single-family listings down significantly and townhome listings rising strongly, while condo listings were nearly even.
Single-family listings in the Inland Empire fell 10.6% year over year, while townhome inventory surged 27.1% and condo listings increased by a slight 0.6%.


Bar chart showing new listings volume and growth by property type, showing single-family listings were down, while townhome listings increased.
Single-family homes in the Inland Empire accounted for the most active listings in April, at 13,346, but that total fell 10.6% year over year. Meanwhile, townhome listings rose 27.1% to 676.


Inland Empire Home Sales

The number of home sales in the Inland Empire decreased by 2.8% in April compared to the same time last year, while national home sales rose by 0.6%.

Inland Empire home sales increase

Inland Empire home sales declined by 106 year over year on a nominal basis in April to 3,716. For context, 3,822 sales closed in the Inland Empire in April 2025.

Inland Empire’s annual home sales activity change ranks 28th nationally

Inland Empire ranked 28th for the annual change in home sales out of the top 40 U.S. markets in April on a percentage basis. This year's April decrease of 2.8% compares to the 0.1% year over year decrease in April 2025.

Inland Empire single-family sales are lower than a year ago

Inland Empire single-family sales decreased by 4.9% in April to 3,130. In comparison, townhome sales rose by 12.4% to 136, and condo sales rose by 9.5% to 450.


Dashboard showing Inland Empire home sales totaling 3,716 in April, declining modestly year over year, versus a slight national increase.
Home sales in the Inland Empire totaled 3,716 in April, down 2.8% year over year, which underperformed the national trend, where sales rose 0.6%.


Column chart of monthly home sales from 2018 to 2026, declining after the 2021 peak and stabilizing at a lower level.
Sales activity in the Inland Empire remained well below pre-2022 levels, totaling approximately 3,700 transactions in each of the past two months.


Area chart of home sales growth in the Inland Empire, still slightly negative in 2026.
Sales in the Inland Empire were down slightly year over year in April 2026, following a sharp drop in 2022 and 2023.


Column chart of year-over-year sales changes in the Inland Empire in the month of April, showing a decline of nearly 3% in April 2026.
In April 2026, Inland Empire sales were down 2.8% year over year, extending a pattern of modest contraction that began a year prior.


Bar chart of home sales across the top 40 U.S. markets, with the Inland Empire ranking mid-tier with approximately 3,700 sales.
The Inland Empire ranked in the middle of major U.S. markets with 3,716 sales in April, trailing high-volume markets like Dallas and Chicago.


Bar chart showing annual sales change by U.S. market, showing the Inland Empire negative among mixed national performance.
Sales in the Inland Empire fell by 2.8% year over year, placing it among the weaker performers, as nearly half of the top 40 U.S. markets posted year-over-year sales increases.


Dashboard comparing Inland Empire sales by property type, with single-family sales declining while the townhome and condo segments show strong growth.
Single-family home sales in the Inland Empire declined by 4.9% year over year in April, while townhome and condo sales increased by 12.4% and 9.5%, respectively.


Bar chart comparing Inland Empire home sales volume and growth by property type, with single-family accounting for the most sales, but declining year over year, while townhome and condo sales increased.
Single-family homes remained the primary driver of Inland Empire sales in April, totaling 3,130 closings, but that was 4.9% lower than a year earlier, while townhome and condo sales increased.


For questions and commentary about this report:

Jesse Gundersheim, Senior Director of Market Analytics at CoStar and Homes.com, based in Irvine, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Jesse Gundersheim

Senior Director of Market Analytics

Homes.com

jgundersheim@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in the Inland Empire during April 2026.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Inventory

Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Home Sales

The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.

Writer
Jesse Gundersheim

Jesse Gundersheim is a Senior Director of Market Analytics at CoStar and Homes.com, where he leads analysis of commercial and residential real estate markets across Southern California. His residential work provides insights into home prices, inventory, rental conditions, and key economic drivers shaping the housing market. Jesse helps brokers, investors, and lenders make informed, data-driven decisions. He has more than 20 years of experience in real estate market analytics and has been featured in The Wall Street Journal, the Los Angeles Times, the San Francisco Chronicle, and Business Times. Jesse holds a bachelor’s degree in finance from the University of Arizona.

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