CA Home Sales Tick Higher In March As Statewide Median Price Sets An All-time High

San Francisco, Los Angeles, San Diego

2022/04/25

Single-family home sales on a seasonally adjusted annualized rate (SAAR) ↑ 0.5% MoM while ↓ 4.4% YoY, totaling ~427K in March.March's statewide median home price was ~$849K, ↑ 10.1% MoM and ↑ 11.9 YoY. Year-to-date statewide home sales also ↓ 7% in March.A surge in sales at the top end of the market was the primary factor for the jump in the statewide median price in Q1 2022.The share of million-dollar home sales increased for the second consecutive month, ↑ 32.9% in March, the highest level on record.