California Housing Market Settles Into Steadier Growth

California home prices are expected to rise modestly through 2028, with yearly gains around ~3% to ~4%, signaling steadier growth instead of another surge.
Active listings reached ~156.3K homes, giving California buyers more choice and less urgency as available supply is expected to keep building through 2027.
Affordability stayed the biggest hurdle: only ~18% of California households qualified for a typical mortgage, ↓from ~31%, keeping entry-level homes highly competitive.
Homes were selling near ~100% of asking price, while 30-yr fixed rates hovered near ~6% and were expected to stay in that range.
Large urban areas like Los Angeles County may need until after 2028 to regain earlier sales pace, while broader California conditions point to predictability.