California home sales reached a three-year high
According to the California Association of Realtors, California home sales hit a three-high in November. (CAR.org)
Existing single-family home sales totaled 287,940 in November on a seasonally adjusted annualized rate, up 1.9 percent from 282,590 in October and up 2.6 percent from 280,530 in November 2024. (CAR.org)
November's statewide median home price was $852,680, down 3.9 percent from $886,960, in October and essentially flat $852,880, in November 2024. (CAR.org)
Year-to-date statewide home sales were up 0.9 percent. (CAR.org)
According to C.A.R.'s President, Tamara Suminski, "California home sales reaching their highest level in more than three years is an encouraging sign that the housing market is continuing its recovery."
She adds, "While the sales growth remains gradual, the upward trend suggests that the market is slowly gaining momentum-good news for buyers, sellers, and real estate professionals alike,"
C.A.R.'s Senior Vice President and Chief Economist, Jordan Levine states,"Mortgage rates are expected to continue declining in 2026, but the decrease is unlikely to be dramatic."
He continues, "With the Federal Reserve signaling a more cautious approach to rate cuts and recent signs of economic slowing, California home sales and prices are projected to experience mild to moderate growth over the next 12 months."
In our area, there is an uptick in showings and activity.
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