The primary gauge of Bakersfield’s home market turned negative last month, new data show, but its decline was not as sharp as some other places across the state experienced.

As last year’s interest rate hikes continue to play out amid relatively high inflation, the sales-price median for an existing home in the city slid to $359,950. That was 2.7 percent lower, month over month — slightly less than the statewide decline in January and more than twice the Central Valley’s overall dip but roughly half the Bay Area’s drop.