A persistent shortage of homes for sale, particularly in the more affordable market segments, continued to push up California's median home price to new record highs over the past couple of months.
With mortgage rates predicted to drop, the statewide median price may have more room to grow before the summer ends.
There is an opportunity for interested buyers to enter the housing market with a moderation in interest rates and recent improvements in housing inventory.
California's cheapest home prices are mainly in Northern California and the Central Valley, with 10 counties having prices below the state median.
#california-real-estate #median-home-price #housing-market-trends #mortgage-rates #affordable-housing
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