Zillow: Home sales, rents peak; Spring inventory surges

Home values are on their way down in most areas of Southern California, according to Zillow.

In Los Angeles, home values have fallen in each of the past three months and are down quarter-over-quarter, indicating the start of a longer-term trend.

The Inland Empire, however, was the only top-35 market to see month-over-month gains in April, though values here are up just 0.1%. Annually, the region is up 4.8%, compared with 8% last year.

In the Riverside metro:
• Home values rose 0.1% month-over-month. The median home value is $370,100.
• The median rent is $1,993, up 5.5% from a year ago.
• Inventory is up 6.2% year-over-year. There are 1,201 more homes on the market than last April.


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