These are some of the issues behind California’s housing crisis
This June, the median home price in California hit a new high — for the third straight month.
The median price for a home in the Golden State in June was $611,420, a 0.04 percent increase from May and a 1.4 percent increase from the year before, according to data from the California Department of Finance.
Even as housing prices hit new highs, sales are growing cool, with the state recently declaring that the housing market is “weak.”
In June, statewide sales of single-family homes equaled 389,690, a 4.2 percent decrease from May and a 5.1 percent decrease from the year before.
Overall, the department found that statewide home sales for the first half of the year are down 5.9 percent from the year before, according to the state.