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California Housing Market. Home prices in California were up 5.2% year-over-year in October. At the same time, the number of homes sold rose 12.9% and the number of homes for sale rose 23.6%.
California Housing Market Trends in 2024 Home Sales. According to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.), existing single-family home sales in California reached a seasonally adjusted annualized rate of 264,870 in October. This represents a 4.7% increase from September and a 9.5% increase compared to October 2023.
The average home value in California is $771,057, up 3.7% over the past year. Learn more about the California housing market and real estate trends.
California’s median home price is forecast to climb 4.6 percent to $909,400 in 2025, following a projected 6.8 percent increase to $869,500 in 2024 from 2023’s $814,000. Housing affordability* is expected to remain stable at 16 percent next year after slipping to a projected 16 percent in 2024 from 17 percent in 2023.
California has an affordability score of 10.8, meaning it takes 10.8 years of the median household income ($78,672) to afford California's median home sale price ($847,100). Because of this, we rank California as the 2nd least affordable state for buyers based strictly on prices compared to income.
Several metro areas are in the early stages of transitioning from a seller’s market to a neutral setting—though homes remain expensive for most buyers. The majority of median sales prices across...
The real estate market in California is poised for significant changes over the next five years, driven by factors such as population growth, evolving economic conditions, and housing supply challenges.
California is home to one of the biggest residential real estate markets in the United States. As a state that is famous for sunny weather, breathtaking natural surroundings, and a thriving...
Home Prices: After rising 1.8% in 2023 and jumping 5.8% year-over-year through May 2024, home prices are forecasted to flatten out as more listings are added to the market and rates remain...
When it comes to the various regions across the Golden State, the real estate market continued to showcase a range of trends in November 2023. Here’s a closer look at the median home prices...