The Housing and Urban Development's (HUD) Federal Housing Administration (FHA) today said it will raise the maximum claim amount for its Single-Family Forward and Home Equity Conversion Mortgage (HECM) mortgage insurance programs to $1,249,125 in 2026, up from $1,209,750 this year.

FHA updates its loan limits every year based on rules in the National Housing Act. These limits are calculated using home-sale data from each county or metropolitan area. The law sets three cost tiers, and FHA adjusts the limits according to local home prices.

The law also caps the loan limit in high-cost areas at 150% of the national conforming loan limit, which is set by the Federal Housing Finance Agency for Fannie Mae and Freddie Mac.

The new limit is a 3.3 percent increase of $39,375, marking the 10th straight year of increases.

Loan limits for most of the country will increase due to the continued appreciation of home prices over the past year.

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December 16, 2025

California home sales reach three-year high in November, C.A.R. reports

• Existing, single-family home sales totaled 287,940 in November on a seasonally adjusted annualized rate, up 1.9 percent from 282,590 in October and up 2.6 percent from 280,530 in November 2024.
  
  
• November's statewide median home price was $852,680, down 3.9 percent from $886,960 in October and essentially flat from $852,880 in November 2024.
  
  
• Year-to-date statewide home sales were up 0.9 percent.

SACRAMENTO (Dec. 16) – California home sales rose in November from both the previous month and year for the third consecutive month to reach the highest level since September 2022, the CALIFORNIA ASSOCIATION OF REALTORS^® (C.A.R.) said today.

Infographic: https://www.car.org/Global/Infographics/2025-11-Sales-and-Price

Closed escrow sales of existing, single-family detached homes in California reached a seasonally adjusted annualized rate of 287,940 in November, according to data collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. This annualized figure reflects the number of homes that would be sold in 2025 if November's sales pace continued throughout the year, with adjustments made for typical seasonal patterns.

Sales increased 1.9 percent from October, rising from 282,590 to 287,940 in November. Compared with a year earlier, November sales were up 2.6 percent from a revised 280,530. Cumulatively, total home sales through the first 11 months of 2025 also remained above last year's level. Nevertheless, November marked the 38th consecutive month in which statewide sales remained below the 300,000-unit benchmark.

Statewide pending home sales in November declined 4.6 percent year over year — marking the first annual drop in four months. Compared to October, pending sales fell sharply by 18 percent, reflecting both typical seasonal factors and heightened mortgage rate volatility amid growing economic concerns. At the county level, pending sales improved from last year in 25 of the 53 counties tracked by C.A.R., with more than half of those counties recording double-digit increases.

"California home sales reaching their highest level in more than three years is an encouraging sign that the housing market is continuing its recovery," said 2026 C.A.R. President Tamara Suminski, a Southern California broker and REALTOR^®. "While the sales growth remains gradual, the upward trend suggests that the market is slowly gaining momentum — good news for buyers, sellers, and real estate professionals alike."

As market conditions cooled during the off-peak market season, the statewide median home price fell 3.9 percent from $886,960 in October to $852,680 in November, a steeper decline than the long-run average drop of 0.3 percent usually observed between October and November. Compared to a year earlier, prices were virtually unchanged, continuing a trend that the market has been observing in the past few months.

"Mortgage rates are expected to continue declining in 2026, but the decrease is unlikely to be dramatic," said C.A.R. Senior Vice President and Chief Economist Jordan Levine. "With the Federal Reserve signaling a more cautious approach to rate cuts and recent signs of economic slowing, California home sales and prices are projected to experience mild to moderate growth over the next 12 months."

Other key points from C.A.R.'s November 2025 resale housing report include:

• At the regional level, only one of the state's major regions recorded a year-over-year increase on non-seasonally adjusted home sales. The Far North stood out with a 2.0 percent gain from a year earlier, while the San Francisco Bay Area (-3.5 percent), Central Valley (-3.1 percent), Southern California (-3.1 percent), and Central Coast (-2.4 percent) all posted annual sales declines.
   
• At the county level, 25 of the 53 counties tracked by C.A.R. posted year-over-year sales gains in November, with more than half of those counties (16) growing by double digits. Trinity led the gains with a 60.0 percent surge, followed by Imperial (46.7 percent) and Mendocino (43.3 percent). Meanwhile, 26 counties experienced annual sales declines, including seven that fell by more than 10 percent — led by Amador (-44.9 percent), Madera (-42.6 percent) and Lake (-35.3 percent).
  
• Three of California's five major regions recorded year-over-year increases in their median home prices. The Far North posted a moderate gain of 2.7 percent from November 2024, followed by Southern California with a 1.2 percent increase and the Central Coast region with a slight 0.2 percent uptick. In contrast, the San Francisco Bay Area experienced the largest annual price decline (-3.2 percent), followed by the Central Valley (-1.0 percent).
  
  
• The median number of days it took to sell a California single-family home was 32 days in November, up from 26 days in November 2024.
  

• At the county level, 28 of the 53 counties tracked by C.A.R. recorded year-over-year gains in median home price in November. Del Norte led with a 24.4 percent increase, followed by Tehama (22.3 percent) and Siskiyou (16.9 percent). Conversely, 24 counties posted annual price declines, while Santa Cruz's price was unchanged. Lassen experienced the steepest drop (-26.6 percent), followed by San Benito (-11.3 percent) and Trinity (-10.3 percent).
  
  
• Housing inventory in November rose from both the prior month and prior year, as market conditions slowed housing demand and lengthened the time listings stayed on the market. The Unsold Inventory Index was 3.6 months in November, up from 3.2 months in October and 3.3 months in November 2024. Total active listings increased from the same month of last year for the 22nd consecutive month, but the annual gain recorded last month was the smallest since February 2024. November marked the seventh straight month of decelerating inventory growth, suggesting that while supply remains elevated, momentum on the supply side is gradually easing as the market moves deeper into the holiday season.

• C.A.R.'s statewide sales-price-to-list-price ratio* was 98.3 percent in November 2025 and 99.4 percent in November 2024.
  
  
• The statewide median price per square foot** for an existing single-family home was $423, down from $429 in November a year ago.
  
  
• The 30-year, fixed-mortgage interest rate averaged 6.24 percent in November, down from 6.81 percent in November 2024, according to C.A.R.'s calculations based on Freddie Mac's weekly mortgage survey data.

Note:  The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS^® throughout the state and represent statistics of existing single-family detached homes only. County sales data is not adjusted to account for seasonal factors that can influence home sales. Movements in sales prices should not be interpreted as changes in the cost of a standard home. The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed by a relatively small share of transactions at either the lower end or the upper end. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold. The change in median prices should not be construed as actual price changes in specific homes.

*Sales-to-list-price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions. The ratio is calculated by dividing the final sales price of a property by its original list price and is expressed as a percentage. A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price.

**Price per square foot is a measure commonly used by real estate agents and brokers to determine how much a square foot of space a buyer will pay for a property. It is calculated as the sale price of the home divided by the number of finished square feet. C.A.R. currently tracks price-per-square foot statistics for 53 counties.

Leading the way…® in California real estate for 120 years, the CALIFORNIA ASSOCIATION OF REALTORS^® (www.car.org) is one of the largest state trade organizations in the United States with 190,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Sacramento.

# # #

November 2025 County Sales and Price Activity
(and condo sales data not seasonally adjusted)

r = revised
NA = not available

November 2025 County Unsold Inventory and Days on Market
(Regional and condo sales data not seasonally adjusted)

r = revised
NA = not available

Article belongs to CAR.org