How does California's housing market compare to other states in the US?

California has some of the most expensive housing in the US, with a median home price of over $700,000. This is due to a combination of factors, including high demand, limited supply, and strict zoning laws.

Compared to other states, California's housing market is much more expensive. The next closest state in terms of price is Hawaii, where the median home price is around $600,000. Other states, such as Texas and Ohio, have median home prices in the $200,000 range.

Additionally, California's housing market is much more competitive. Homes in the state often receive multiple offers and sell for more than their asking price. This is especially true in desirable areas like Los Angeles and San Francisco.

However, it's worth noting that California's housing market is also more prone to fluctuations. During the Great Recession, the state's housing market was hit hard, with many homeowners going into foreclosure.