A lack of supply and low interest rates are two major reasons behind soaring house prices in California where it’s predicted that median home prices will rise even further in 2022. However, supply constraints and those higher home prices will bring California home sales down slightly next year, said the California Association of Realtors (C.A.R.). C.A.R has predicted that median home prices in California are expected to rise 5.2 percent to $834,400 in 2022, following a projected 20.3 percent increase to $793,100 in 2021. About 70 percent of the top 75 fastest growing cities have a median price of at least $1 million said findings from C.A.R.’s 2022 California Housing Market Forecast. One out of four of those top 75 are “in markets with a median price of at least $2 million,” said C.A.R.’s Jordan Levine, the association’s vice president and chief economist. “Demand for homes will continue to outstrip available …