California housing market continues to normalize as home sales and prices curb in July, C A R reports
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California home sales ease in May as statewide median price inches up to set another record, C A R reports
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Heated market conditions and a shortage of homes for sale continued to put upward pressure on California home prices, driving the state’s median price above the $800,000 benchmark for the first time ever in April, as home sales soared from last year’s pandemic-level lows.
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 458,170 in April, according to information collected by C.A.R. from more than 90 local REALTOR
® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2021 if sales maintained the April pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.