Home sales in Fresno and in cities across California increased last month, but home prices fell, according to the California Association of Realtors.
In Fresno, existing home sales increased 5.6 percent in February and nearly 15 percent compared to the same time a year ago. The median home price fell to $210,370 from $213,510 in January.
Statewide, home prices fell 4.7 percent last month to $446,460 from $468,330 at the beginning of the year.
“February’s home price increase was the slowest rate of growth in six months, reflecting a shift in sales toward lower-priced, inland areas as buyers feeling the affordability crunch and tight supplies move away from urban cores to find affordable housing,” said Leslie Appleton-Young, the association’s vice president and chief economist.
Homebuyers in the Bay Area are looking to buy in Contra Costa, Solano or Sonoma counties, Appleton-Young said. Southern California buyers are moving to Riverside, San Bernardino or Central Valley areas “where housing inventory is more abundant and affordable.”
Feb. 2016 Median Price
Jan. 2016 Median Price
Monthly sales change
Yearly sales change