Highlights & Key Points
📈 Sales Activity
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Rebound in June: Annualized existing single-family home sales rose to 264,260, up 4.0 % from May’s 254,190, though still 0.3 % lower than June 2024’s 264,960
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This ended three straight months of declining sales.
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Year‑to‑date sales showed a slight 0.2 % increase versus 2024
🏷️ Prices & Inventory
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Median price ticked down slightly to $899,560, a 0.1 % dip from both May price and June 2024 level ($900,720)
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Inventory increased, with more active listings and longer days on market (24 days vs. 18 days a year ago)
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Competitive pressure easing: Fewer homes sold above asking price, giving buyers more negotiating leverage .
📰 Market Outlook
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Rising mortgage rates are expected to dampen July demand
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Buyer’s market emerging: With more homes available and prices flat, market conditions may shift gradually toward buyers .
🔥 Wildfire‑Impacted Areas
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Altadena: Year‑to‑date sales plunged 54.8%; median price dropped from $1.425 M to $867,500 (−39.1%)
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Pacific Palisades: Sales dropped 83.8%, median price fell from $3.310 M to $2.525 M (−23.7%)
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Many fire-damaged lots are being sold rather than rebuilt — e.g., Altadena saw 172 lots sold in six months vs. just 6 in prior year
📝 Overall Summary
In June 2025, California’s housing market demonstrated signs of stabilization: sales rebounded modestly, and the median home price dipped just below $900,000. The increase in inventory, slower pace of sales, and reduced bidding wars are collectively creating a more balanced market—trending slightly in favor of buyers. However, persistent mortgage rate pressures and cautious buyer sentiment may slow momentum heading into July. Notably, wildfire‑affected areas like Altadena and Pacific Palisades have seen sharp declines in sales activity and significant price corrections, as many sellers liquidate damaged properties rather than rebuild.
