Overview
- Closed sales of existing single-family homes rose 1.9% from October and 2.6% year over year in November to a 287,940 annualized pace, the strongest since September 2022.
- The statewide median price fell 3.9% month over month to $852,680 and was essentially flat from a year earlier, with inventory at 3.6 months and an average of 32 days to sell.
- The San Francisco Bay Area recorded the largest annual price decline in California, with regional sales down 3.5% year over year and nearly 22% from October; the regional median was $1.275 million.
- San Diego County moved against the statewide sales trend, dropping 23.6% from October and 6% year over year, though its median edged up 0.5% to $990,000.
- C.A.R. economists cited 2025 tech layoffs in San Francisco as a factor in softer demand there and forecast mild to moderate gains over the next 12 months as borrowing costs decline slowly.