Forbes Advisor reports that the California real estate market is facing challenges due to higher mortgage rates and rising inflation. Despite these obstacles, the housing market remains largely healthy in the Bay Area and Southern California. Home prices vary across the state, but many markets are transitioning from a seller's market to a more neutral setting. Median sales prices have also decreased between 2022 and 2023, making homes more affordable for buyers. However, first-time homebuyers in California are struggling to purchase a single-family home, especially in certain counties. The Central Valley is one of the most affordable areas in the state, while the California Housing Market Fore
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