California’s median existing single-family home price reached a record $930.3K in Mid-Q2, ↑3.1% yearly as competition supported pricing across constrained supply conditions.
Statewide existing single-family sales ran at a seasonally adjusted annualized pace of 268.8K in Mid-Q2, ↑5.1% yearly, showing stronger buyer activity statewide.
Higher-priced segments outperformed: $1M-$2M homes posted sales ↑8.2% yearly, while >$2M homes saw sales ↑8.5% yearly across California, strengthening upper-tier momentum in Mid-Q2.
Supply remained constrained as the lock-in effect kept many would-be sellers sidelined, intensifying competition and adding upward pressure on prices statewide recently.
Recent easing in mortgage rates offered an encouraging sign; if it continues, officials said more buyers and sellers could return beginning in Q3.
California Home Prices Hit Record High
