California Home Sales, Prices Drop in Early 2026

Early 2026 closed escrows: 256,550, ↓10.8% MoM and ↓1.3% yearly.
Sub-300,000 seasonally adjusted annualized sales streak reached 40 straight months.
Median price hit 23-month low $823,180, ↓3.2% MoM; third yearly drop in 4 months.
Leaders cited policy uncertainty, geopolitical tensions, and mortgage-rate volatility.
CAR expects a February rebound and momentum into spring homebuying season.