California Named Priciest Q3 Home Market – NMP Skip to main content

California Named Priciest Q3 Home Market

Nov 03, 2016
Seven of the 10 most expensive housing markets in the third quarter were located in California, according to new data from National Association of Realtors (NAR)

Seven of the 10 most expensive housing markets in the third quarter were located in California, according to new data from National Association of Realtors (NAR).

San Jose was the epicenter of very-very-expensive housing: the median existing single-family price was $1,000,000. In comparison, second-ranked San Francisco provided a bastion of affordable housing: its median existing single-family price was $835,400. Rounding out the top five was the urban section of the Hawaiian capital Honolulu ($745,300) and California’s Anaheim-Santa Ana metro ($740,100) and San Diego ($589,300). In comparison, the national median existing single-family home price in the third quarter was $240,900, up 5.2 percent from the third quarter of 2015 ($228,900).

But California is hardly alone in fast rising home prices: NAR reported that 155 out of 178 metropolitan statistical areas that it analyzes recorded year-over-year gains based on closed sales in the third quarter, while only 22 areas (12 percent) recorded lower median prices from a year earlier.

“Mortgage rates around historical lows and solid local job creation created a winning formula for sustained homebuying demand all summer long,” said NAR Chief Economist Lawrence Yun. “Unfortunately for house hunters in several of the top job producing metro areas around the country, deficient supply levels limited their options and drove prices higher – especially in markets in the West and South.”

About the author
Published
Nov 03, 2016
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026