Home sales in Fresno County and other cities statewide remained flat in October despite mortgage rates hitting its lowest level in the last 18 months, according to a report from the California Association of Realtors.
Fresno County home sales increased by 4.2% in October compared to September, but was down 1% from a year ago at the same time.
The median home price fell in October to $200,600 from $203,210 the month before.
The inventory of homes for sale, at the current pace of sales, is falling too. Last month, Fresno County had 4.9 months of inventory available compared to 5.2 in September. A normal inventory is six to seven months.