California home prices continue to rise at record pace in June
The California Association of Realtors reported that existing home sales totaled 436,000 on a seasonally adjusted annualized rate in June. That marked a year-over-year increase of 28% in the number of sales last June.
The median price paid for an existing home in June was $819,630, up from May’s $818,260 median price. Year-over-year the median price increased 30.9% from last June when the median price was $588,070. June marked a third straight month of year-over-year gains of over 30% in the median price.
The California Association of Realtors tracks inventory levels based on how many months it would take to sell the active listings in all MLS systems at the current sales level. There was a 1.7 month supply of homes for sale in June, down from a 2.7 month supply of homes for sale last June. Active listings are beginning to climb, and are at the highest level since last October.
Below are median price and sales data by county.
