These are the median home sale prices for California's most populous metro areas

Homeowners are suing major insurers, including State Farm, accusing them of collusion in the housing market. In April, the U. S. experienced a five-year high in housing supply, yet sales of existing homes dropped to their lowest level since October 2022. Economic uncertainty and rising home prices, which increased by 1.

4% year over year to a median of $438,466, are causing potential buyers to hesitate. California's housing market is particularly notable, with six of its metro areas ranking in the top 10 priciest in the nation, led by San Jose at $1. 7 million. Real estate agents report that nearly 70% of homes in San Jose sold above their list price, reflecting strong demand despite overall market anxiety. Experts warn that this uncertainty could deter buyers from making significant purchases.