CALIFORNIA – The California Association of Realtors (CAR) released a report and found that the housing market dipped for a second month as the median home price hit a record high of over $900,000.

Home sales in April dropped 3.4% compared to March and were slightly lower than the same time last year. It was the slowest month for sales in three months.

“The housing market experienced a sluggish start to this spring buying season, as home purchase sentiment declined due to concerns over tariffs and a potential recession,” said C.A.R. President Heather Ozur.

Retailers have also reported a decline in sales due to tariffs, with Target noting a 3.8% drop, partly attributed to reduced consumer spending on discretionary items.

Ozu goes on to say that as trade negotiations between the U.S. and its trading partners continue, they hope to see more clarity once these trade deals are finalized.

San Mateo posted highest median sold price at $2,281,500

CAR found that California’s median home price hit a record $910,160 in April, with prices up 2.9% from March but rising more slowly than usual for this time of year. 

The smaller increase and slower annual growth could suggest that price gains are moderating due to market uncertainties and economic concerns.

Out of the 53 counties tracked by CAR, 33 saw sales grow compared to last year, and over half of those had increases of more than 10%.

San Mateo posted the highest median sold price for April at $2,281,500. Glenn, located in the Sacramento Valley, had the lowest price at $307,000.

Homes in Southern California had a median sold price of $887,000 for April.

To read the full report visit https://www.prnewswire.com/news-releases/california-home-sales-retreat-for-second-straight-month-in-april-as-median-home-price-hits-new-all-time-high-car-reports-302459212.html

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