LOS ANGELES (CNS) – Home sales rose significantly last month in Southern California and statewide as slightly more favorable mortgage rates encouraged buyers to enter the market, the California Association of Realtors announced Tuesday.
Sales of existing, single-family homes in California totaled 274,820 in February on a seasonally adjusted annualized rate, up 7% from January’s total, but down 0.3% from February 2025.
In the Los Angeles metro area, sales were up 11.5% from last month, but down 1.8% from last year, while in Los Angeles County sales were up 14.2% from January but down 0.3% from February of 2025.
Orange County’s sales were up 9.3% last month, and down 3.6% from this time last year.
“Following a soft start to the year, the housing market regained momentum in February, with both sales and prices showing solid gains,” CAR President Tamara Suminski said in a statement. “The conflict in the Middle East is creating some uncertainty for the broader economy and financial markets, which could lead to some short-term hesitation in the housing market. We remain hopeful though that the situation will stabilize in the weeks ahead, allowing market fundamentals and buyer and seller confidence to reassert themselves.”
Statewide prices were also up last month, with California’s median home price rising 0.9% from January to February, to $830,370. That represents a 0.2% increase from one year ago.
In the Los Angeles metro area, the average price rose 0.6% in February to $812,950, 1.4% lower than February 2025. Los Angeles County’s average price was down 4.2% in February to $842,660, 1.1% lower than last year.
Orange County’s average price was up 1.6% last month to $1.432 million, 2.3% lower than February of 2025.
“While mortgage rates remain below year-ago levels, they recently jumped to their highest level in seven months and could temper buyer momentum as we head into the spring homebuying season,” CAR Senior Vice President and Chief Economist Jordan Levine said. “However, many homeowners remain locked in to historically low rates, and inventory remains tight, so any stabilization in rates could help bolster home prices in the spring market despite ongoing affordability and economic challenges.”
The county with the highest median home price in California in February was Mono County at $2.35 million, after increasing 50% from last month. The lowest median price was Lassen County’s $199,000, after a 22% drop from last month.
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