California Housing Market: What’s Happening In 2023?
The California real estate market is one of the most expensive in the U.S. that’s adjusting to higher mortgage rates and rising inflation. However, the Golden State housing market remains healthy in its various regions, including the tech-savvy Bay Area and multi-faceted Southern California.
Home prices vary across California, but markets may follow the same trends. Several metro areas are in the early stages of transitioning from a seller’s market to a neutral setting—though homes remain expensive for most buyers.
The majority of median sales prices across California decreased between 2022 and 2023. These are the recent median sold price readings from the California Association of Realtors (CAR) for existing single-family home real estate transactions.