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California’s Median Home Price Seen Topping $800,000 in New Peak

Homes in San Francisco.
Photographer: David Paul Morris/Bloomberg

The median price for a home in California is set to jump north of $800,000 next year, adding to a long-simmering affordability crisis in the state.

The state, which has grappled for years with a shortage of affordable housing, will see prices rise 5.2% to a median of $834,000 in 2022, according to a forecast by the California Association of Realtors.