Home prices in California continue to rise despite slower growth due to higher mortgage rates. The typical U.S. home value is $366,712, up 0.7% year-over-year. In California, cities like Atherton, Montecito, and Portola Valley lead with the largest dollar increases, with Atherton's typical home value at $8.2 million, rising $704,085 in one year. Many cities show significant 5-year gains, reflecting ongoing demand and limited housing supply.