The California real estate market is showing mixed trends across different regions. For example, the Los Angeles Metro Area saw a 9.0% increase in median home prices year-over-year, reaching $801,000. In contrast, the Central Valley experienced a slight decline in sales. Overall, California’s housing market is expected to rebound in 2024, with a forecasted 22.9% increase in single-family home sales and a 6.2% rise in median home prices, driven by lower mortgage rates and high buyer demand despite limited inventory​ (Norada Real Estate Investments)​.