California Home Sales Rose Slightly in August

Statewide median home prices climbed to $901,420 as sales volume increased 2.4% over July.

Updated on Sept. 19, 2026 in Residential

Bold vector editorial illustration showing a section of a stucco home with terracotta roof tiles, representing the California housing market. — California existing single-family home sales rose 2.4% in August as the statewide median price for homes climbed to $901,420. AI Illustration. Upload story photo >

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Existing single-family home sales in California reached a seasonally adjusted annualized rate of 269,620 in August, marking a 2.4% increase from the prior month. The median home price for these transactions hit $901,420, rising from the July level of $887,210.

Why it matters

Rising home prices combined with shifting mortgage rates impact the overall cost of homeownership for potential buyers across California. As rates fluctuate, households must re-evaluate their monthly housing budgets and long-term financial commitments.

California saw home sales reach an annualized rate of 269,620 in August, while the median price of $901,420 remains below the record high of $930,260 reached in May. These figures are tracked against a baseline of 6.67% average mortgage rates during the month.

The players

California Association of Realtors

A trade organization that provides housing market reports and data on statewide real estate trends.

The details

Home sales figures represent a seasonally adjusted annualized rate derived from the California Association of Realtors. The increase in price reflects a trend where competition for limited housing stock continues to influence market valuations. Buyers should note that mortgage rates reached 7.38% by mid-September, which significantly alters the interest costs associated with new loans.

May 2026: Statewide median home price reached a record $930,260.
August 2025: Median home price was $900,620.
August 2026: California median home price rose to $901,420.
September 16, 2026: The California Association of Realtors released the August housing report.
September 18, 2026: Average 30-year fixed mortgage rates reached 7.38%.

Money Landscape

California home prices remain historically elevated, hovering near the levels seen one year ago. This activity follows a pattern set by the Federal Reserve's interest rate policy, which continues to influence mortgage rates and limit buyer affordability.

Prospective buyers should factor in the recent rise in mortgage rates when determining their maximum monthly mortgage payment. Consider consulting a qualified financial professional to review your debt-to-income ratio before committing to a home purchase in the current market.

The takeaway

While home prices continue to fluctuate, the rising interest rate environment remains a critical factor for any household planning a purchase. Keep track of current mortgage rate trends to understand how they align with your long-term housing budget and overall financial plan.