IE Business Daily Business news for the Inland Empire.
California’s housing market slipped in September, the result of high prices and higher-than-normal borrowing costs.
Sales of existing single-family homes last month totaled 260,410, down 3.4 percent from August and 6.5 percent from September 2025, according to the California Association of Realtors.
The median home price statewide last month was $899,720, down 0.2 percent month over month but up 1.7 percent year over year. Sales during the first nine months of this year were essentially unchanged from the same period in 2025.
The September sales numbers are annualized, meaning they show the number of homes that would be sold in 2026 if that month’s sales pace continued throughout the year.
That number was below 300,000 for the 48th consecutive month.
“September’s decline in pending sales suggests that California could see further softening in closed transactions in the coming months,” said Jordan Levine, the association’s chief economist, in a statement. “On the supply side, the mortgage rate lock-in effect continues to constrain new listings, while limited inventory is helping to cushion home prices against weaker demand.
“These competing forces suggest that slower sales may not translate into a comparable decline in prices in the near term.”
The association’s monthly report is based on data provided by more than 90 real estate associations and multiple listing services statewide.
