California housing market

California’s housing market is characterized by high demand and limited supply, driven by its strong economy, job opportunities, and desirable climate. This has led to consistently rising home prices and affordability challenges, especially in major cities like San Francisco, Los Angeles, and San Diego. Interest rates and new construction levels also influence market dynamics, affecting availability and costs. While some areas experience price corrections during economic downturns, overall, California remains one of the most expensive states to buy or rent a home, impacting residents and policymakers aiming to balance growth with affordability.