Home Prices Hit a Record High — What It Means for CA Buyers

The national median home price just hit a record $440,600, and inventory growth is stalling. Here's what that means if you're planning to buy in California.

The housing market just set a new record — the national median existing-home price climbed to $440,600, marking the 36th straight month of year-over-year price gains. And while sales dipped slightly last month, prices kept climbing anyway.

Here's the part that should get your attention: inventory is barely growing. There are only about 4.6 months of supply on the market nationally — and in many California markets, that number is even tighter. When supply stalls and demand stays steady, prices don't cool off. They stay elevated or push higher.

The one bright spot? Affordability has actually improved compared to a year ago. Wage growth has been outpacing home-price increases, and the Housing Affordability Index is now above 100 — meaning a median-income household can technically qualify for a median-priced home. That's meaningful progress.

But here's the risk: if new inventory doesn't come to market soon, that affordability window could close quickly. For buyers sitting on the fence, waiting for prices to drop may not be the winning strategy it once seemed.

If you're ready to explore what you can qualify for in today's market, reach out to our team. We'll walk you through your real numbers — no pressure, just clarity.