California Housing Market Rebounds with February Sales Surge

Home sales and prices rose in February 2025, driven by lower mortgage rates and increased inventory, but regional disparities and rental pressures persist.

• California home sales reached 283,540 in February 2025, up 11.6% from January and 2.6% from February 2024, marking the highest level since October 2022.
• The statewide median home price rose 2.8% year-over-year to $829,060, though it declined 1.2% from January and remains below historical averages.
• San Diego County outperformed statewide trends with a 6.1% annual increase in home prices, reaching a median of $1.04 million.
• Southern California home prices rose 0.3% in February, the first increase in seven months, while Los Angeles County saw a 32% rise in inventory compared to February 2024.
• Rental markets in wildfire-affected areas face rising pressures, as displaced residents drive up rents near burn zones like Pacific Palisades and Altadena.

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Times of San Diego Los Angeles Times Newsweek Newsweek