California's housing market rebounded in June with a 4% sales increase from May, though median prices dipped slightly to $899,560. Sales remain just above last year's levels, with pending sales down for seven months and rising mortgage rates a concern. Regional disparities persist, especially in wildfire-affected areas like Altadena and Pacific Palisades, where sales and prices have sharply declined. Inventory rose over 40%, giving buyers more negotiating power, signaling a gradual shift toward a balanced market.
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