Statewide, existing single-family home sales fell to a seasonally adjusted annualized rate of 263,170 units in July, down 6% from June but up 1.1% from a year earlier. Sales remained below the 300,000-unit benchmark for the 46th consecutive month.
California’s median home price 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.