29 May April home sales and price report

April home sales and price report

According to the California Association of Realtors, sales dipped for the second straight month as the median home price hits new all-time high. (CAR.org)

Existing single-family home sales totaled 267,710 in April on a seasonally adjusted annualized rate, down 3.4 percent from 277,030 in March and down 0.2 percent from 268,170 in April 2024. (CAR.org)

April’s statewide median home price was $910,160, up 2.9 percent from March and up 0.7 percent from $904,010 in April 2024. (CAR.org)

Year-to-date statewide home sales were up 1.4 percent. (CAR.org)

According to C.A.R.’s President, Heather Ozur, “The housing market experienced a sluggish start to this spring buying season, as home purchase sentiment declined due to concerns over tariffs and a potential recession.”

She continues, “With prices gradually increasing and mortgage rates remaining high , homebuyers are showing some hesitation amid the economic uncertainty. As trade negotiations between the U.S. and its trading partners continue, we hope to see more clarity once these trade deals are finalized.”

C.A.R.’s Senior Vice President and Chief Economist, Jordan Levine, points out, “Despite reaching a new record, prices are moderating as the latest yearly growth pace slowed to its lowest  since mid-2023. Ongoing economic uncertainty has slightly dampened demand, while a steady increase in inventory has contributed to more moderate price growth this year.”

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