Riverside County's median home price rose over 2% to $649,000 in July, despite a nearly 14% drop in home sales from June. Sales also declined slightly year-over-year. Statewide, median prices fell below $900,000 for the first time in four months, with mortgage rates around 6.5%. Higher borrowing costs are reducing buyer demand, but increased inventory offers more choices as the market enters the slower fall season.
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