California Association of Realtors

Home prices declined in Los Angeles and Orange counties last month, and sales also saw a pullback from June levels. Specifically, the median price for an existing single-family home in Los Angeles County fell by 2.4% to $888,120 in July. Sales in LA County dropped 8.7% from June, while Orange County's median home price also declined.

California is implementing a major housing change aimed at increasing the availability of affordable homes. The current statewide median price for existing single-family homes remains above $900,000.

California’s housing market shows little change in spring 2026, with the statewide median home price reaching $914,810 in April—exceeding the California Association of Realtors’ $905,000 forecast. Mortgage rates averaged 6.55% on June 24, higher than the projected 6.0% for 2026, while active listings declined slightly in March compared to the previous year.

A six-figure salary of $104,200 in Orange County, California, is now classified as 'low-income' by state housing officials for 2026, up from $94,750 in 2025. High housing costs have pushed this threshold above the county’s median individual income, exacerbating an affordability crisis where only 18% of households can afford a median-priced home. Population declines in Los Angeles County and San Francisco highlight broader regional challenges.

Home prices in six California counties surged over 10%, but the broader real estate market faces challenges due to elevated mortgage rates. Experts note buyers are cautious and sellers are reluctant to list properties, signaling a shift from previous market dynamics.