California Home Sales Slow

In Late-Q3, California existing single-family sales ran at a seasonally adjusted annual pace of 260.4K, with activity ↓3.4% MoM and ↓6.5% yearly.
Rising mortgage rates and persistent affordability pressures cooled buyer demand statewide, while a market that felt less rushed gave shoppers more time to compare options.
California’s avg. existing single-family price moved from $901.4K in Mid-Q3 to $899.7K in Late-Q3, a slight shift that signaled modest statewide softening.
With competition easing statewide, well-prepared buyers had more room to explore listings, negotiate terms, and prioritize fit instead of rushing into offers.
As California moved into Early-Fall, the slower pace suggested a market where patience mattered more, especially for buyers navigating rates and affordability.