In a first, most California homes sell for more than $900,000

 

In a landmark development, California's median single-family home price surged past $900,000 in April, marking an 11.4% annual increase. This dramatic rise, exceeding $100,000 over two years, reflects a market characterized by high prices and mortgage rates. Many homeowners are reluctant to sell, fearing the loss of low-interest rates, exacerbating a severe shortage of homes for sale. As California's real estate landscape evolves, navigating these challenges requires informed guidance. Whether buying or selling, understanding these trends is essential.