Despite the drop in median home prices from August to September, economic uncertainty and fluctuating mortgage rates have led to decreased home sales across California.
Jordan Levine, senior vice president of the California Association of Realtors, stated that 'waiting may not be the best strategy when it comes to homebuying' given fluctuating mortgage rates.
As home prices are anticipated to ease further in the upcoming months, there may be opportunities for potential buyers to re-enter the market at a lower price.
The most affordable housing options in California are located mainly in Northern California and Central Valley, with several counties reporting prices below the state median.
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