California Housing Market Stalls: What’s Next for Homebuyers?

The California housing market is currently experiencing a slowdown, with September 2024 home sales hitting a nine-month low at 253,010, a 3.4% drop from August. The median home price is $868,150, reflecting a slight decrease from August but a 2.9% increase year-over-year. Economic uncertainty, fluctuating interest rates, and increased inventory contribute to buyer hesitation. While some regions see sales increases, others face declines. The market is expected to stabilize, with moderate price growth and continued inventory increases, making it essential for buyers and sellers to stay informed.