California’s median home price also fell below $900,000 for the first time in four months, declining 1.9% from $904,640 in June to $887,680 in July. The median remained 0.3% higher than a year earlier.
“California’s housing market pulled back last month as mortgage rates remained elevated and briefly reached a 12-month high in recent weeks,” CAR President Tamara Suminski said in a statement. “Despite a slower start to the second half of 2026, improved supply conditions in July, combined with the recent decline in mortgage rates, could provide some relief to buyers and give them more options to choose from as the market transitions into the off-peak season.”