California Housing Market: Prices, Trends, Forecast 2026

California's housing market shows slight growth with a statewide median price of $901,420 and a 30-year mortgage rate near 7%. Sales rose 2.4% from July and 1.4% year-over-year but remain below a 300,000-unit annual pace for 47 months. High prices and mortgage costs limit buyers, while regional variations affect inventory and sales speed. The market is stable but constrained by affordability rather than value declines.