California home sales reached a three-year high, according to new data from the California Association of Realtors (CAR).
Closed escrow sales of existing, single-family detached homes in California totaled 287,940 last month, up by 1.9% from the 282,590 sales in October and up 2.6% from a revised 280,530 in November 2024. But despite reaching the highest sales level since September 2022, November marked the 38th consecutive month in which statewide sales remained below the 300,000-unit benchmark.
Statewide pending home sales in November declined 4.6% year-over-year, the first annual drop in four months, while the month-over-month activity was an 18% decline. Still, pending sales improved from last year in 25 of the 53 counties tracked by CAR, with more than half of those counties recording double-digit increases.
Housing inventory in November rose from both the prior month and prior year, as market conditions slowed housing demand and lengthened the time listings stayed on the market. The Unsold Inventory Index was 3.6 months in November, up from 3.2 months in October and 3.3 months in November 2024. Total active listings increased from the same month of last year for the 22nd consecutive month, but the annual gain recorded last month was the smallest since February 2024. November marked the seventh straight month of decelerating inventory growth.
The median number of days it took to sell a California single-family home was 32 days in November, up from 26 days in November 2024.
“California home sales reaching their highest level in more than three years is an encouraging sign that the housing market is continuing its recovery,” said 2026 CAR President Tamara Suminski, a Southern California broker and realtor. “While the sales growth remains gradual, the upward trend suggests that the market is slowly gaining momentum — good news for buyers, sellers, and real estate professionals alike.”
November also saw the statewide median home price drop by 3.9% from $886,960 in October to $852,680 in November; year-over-year, prices were virtually unchanged.
“Mortgage rates are expected to continue declining in 2026, but the decrease is unlikely to be dramatic,” said CAR Senior Vice President and Chief Economist Jordan Levine. “With the Federal Reserve signaling a more cautious approach to rate cuts and recent signs of economic slowing, California home sales and prices are projected to experience mild to moderate growth over the next 12 months.”
