California home sales increased 12.8% in February, reaching levels not seen since September 2022.

California home sales remained resilient in February despite rising mortgage interest rates, increasing 12.8% from January to 290,020 on a seasonally adjusted annualized rate. The statewide median home price rose 2.2% from January to $806,490 and 9.7% from February 2023. February sales reached levels not seen since September 2022, with home prices increasing in Orange County and the Los Angeles metro area.