California Housing Market: Prices, Trends, Forecast 2026

California’s housing market is still moving—but barely, and mostly for buyers who can clear a near-$900,000 statewide median and a 30-year mortgage that has climbed back toward 7%. According to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) August 2026  sales and price report released September 16, the statewide existing single-family median rebounded to $901,420—up 1.6% from July’s $887,210 and just 0.1% above August 2025’s $900,620. Seasonally adjusted annualized sales reached 269,620, up 2.4% from July and 1.4% from a year earlier, yet the state remains stuck below the 300,000-unit annualized pace for a 47th consecutive month. That combination is the California story heading into fall 2026: resilient enough to retire most “crash” headlines, expensive enough that monthly payment math—not a sudden collapse in values—is the real constraint for households and investors alike.