California Home Sales in April Down 3.4% from March and Down 0.2% from April 2024

California home sales retreat for second straight month in April as median home price hits new all-time high, C.A.R. reports

Existing, single-family home sales totaled 267,710 in April on a seasonally adjusted annualized rate, down 3.4 percent from 277,030 in March and down 0.2 percent from 268,170 in April 2024.
April’s statewide median home price was $910,160, up 2.9 percent from March and up 0.7 percent from $904,010 in April 2024.
Year-to-date statewide home sales were up 1.4 percent.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 267,710 in April, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2025 if sales maintained the April pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

April’s sales pace fell 3.4 percent from the 277,030 homes sold in March and was down 0.2 percent from a year ago, when 268,170 homes were sold on an annualized basis. April’s sales level was the lowest in three months.

Despite sales slightly exceeding last year’s level for the first four months this year, the number of homes sold has hovered below the 300,000 benchmark for the last 31 months. As consumers remain worried about their financial outlook for the year ahead and the Federal Reserve holding interest rates steady until there is more clarity, housing sentiment may decline further in the near term and could keep home sales activity low for the rest of the spring buying season.

Statewide pending sales in April slipped from last year’s level for the fifth consecutive month as housing sentiment continued to trend downward. The dip in open escrows is likely due partly to mortgage rates spiking and staying elevated throughout the month of April after President Trump’s reciprocal tariff announcement on April 2. The public’s growing concern of a recession triggered by the tariffs may also have played a role in the slowdown in housing demand. With mortgage rates expected to be volatile in the short term, pending sales could remain subdued.

“The housing market experienced a sluggish start to this spring buying season, as home purchase sentiment declined due to concerns over tariffs and a potential recession,” said C.A.R. President Heather Ozur, a Palm Springs REALTOR®. “With prices gradually increasing and mortgage rates remaining high, homebuyers are showing some hesitation amid the economic uncertainty. As trade negotiations between the U.S. and its trading partners continue, we hope to see more clarity once these trade deals are finalized.”

California reached a new all-time high median home price of $910,160 in April, marking the 22nd consecutive month of year-over-year increases. However, the annual price gain was the smallest since July 2023. Month-over-month, the median price also rose 2.9 percent from $884,350 in March, but the increase was smaller than the 10-year average gain of 4 percent typically seen between March and April. While the statewide median price is likely to continue rising in the coming months due to seasonal trends, April’s slower price growth may signal that price moderation could persist as market uncertainties and economic concerns remain.

“Home prices continued to rise last month, pushing the statewide median price to a new high in April,” said C.A.R. Senior Vice President and Chief Economist Jordan Levine. “Despite reaching a new record, prices are moderating as the latest yearly growth pace slowed to its lowest since mid-2023. Ongoing economic uncertainty has slightly dampened demand, while a steady increase in inventory has contributed to more moderate price growth this year.”