CA Home Sales Hit 3-Year High In November

Homes sales in the Golden State reached their highest level in over three years last month, according to the California Association of Realtors.

Closed escrow sales of existing houses in the state had a seasonally adjusted annualized rate of 287,940 in November, the highest number since September 2022, according to the association.

November sales were up 1.9 percent from October and 2.6 percent from a year earlier, the association reported, adding total home sales through the first 11 months of 2025 were also above last year’s level.

"California home sales reaching their highest level in more than three years is an encouraging sign that the housing market is continuing its recovery," 2026 association President Tamara Suminski said in a news release Tuesday.

"While the sales growth remains gradual, the upward trend suggests that the market is slowly gaining momentum — good news for buyers, sellers, and real estate professionals alike."

The statewide median home price for November fell 3.9 percent, at $852,860, compared to October, according to the association, which noted prices were basically unchanged year over year.

The 30-year, fixed-mortgage interest rate averaged 6.24 percent last month, down from 6.81 percent in November 2024, the association reported.

"Mortgage rates are expected to continue declining in 2026, but the decrease is unlikely to be dramatic," association Senior Vice President and Chief Economist Jordan Levine said in the news release.

"With the Federal Reserve signaling a more cautious approach to rate cuts and recent signs of economic slowing, California home sales and prices are projected to experience mild to moderate growth over the next 12 months."