California Housing Market Cools Down: Is it a Buyer’s Market Yet?

California's housing market is experiencing a slowdown, with home sales in August 2024 dropping to a seven-month low of 262,050, a 6.3% decrease from July. Despite this, median home prices remain stable at $888,740, reflecting a slight increase. Factors contributing to the slowdown include fluctuating interest rates, affordability concerns, and the end of the traditional buying season. Experts suggest that future interest rate decisions and increasing inventory could influence market dynamics. Overall, California real estate continues to be a solid investment opportunity.