Unaffordable: California home prices break yet another record

In May, the median sale price of a single-family house in California set a new high, 

putting homeownership out of reach for even more Golden State residents.

According to California Department of Finance data, the typical price of a single-family house in May was

 $898,980, up 1.6 percent from the previous month and over 10% from the same time last year.

With mortgage rates rising, the annual income needed to finance the median-priced home in

California is about $180,000, which is more than double the state's median household income.

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