California median home prices drop two months in a row. See how state compares nationally

Not only did the median price of single-family homes in California drop, but fewer are being sold — making the idea of owning a home less far-fetched for some residents.

According to data from the California Department of Finance, the statewide median price of single-family homes decreased for the second month in a row. The median price of a single-family home in July was $833,910, down 3.5% from June, but up nearly 3% from last summer.

The median price of a single family home in May was $898,980, according to previous Bee reporting. Meaning, the median price of a California single-family home has decreased more than $65,000 in two months.

Additionally, fewer California homes were sold.

Nearly 300,000 single-family homes were sold across the state in July, a 14.4% drop from June and down more than 31% from July 2021.

Use this interactive map, with data collected from real estate company Redfin and last updated in July, to compare the median home value in California to other U.S. states.

California has the second highest median sale price in the country, behind Hawaii.

This story was originally published August 23, 2022 at 9:40 AM with the headline "California median home prices drop two months in a row. See how state compares nationally."