California Weekly Data: October 2, 2021

Market Report provided by California Association of Realtors

The housing market continues to adjust as we move into the off season. Home prices are cooling off and we will unlikely see another record statewide median price before 2022. While fewer listings are expected to come onto the market in the fall than in the spring homebuying season, sales actually remain solid despite some pullback in demand due to recent rate hikes. With the economic recovery remaining on course but progressing at a slower pace than anticipated, inflationary pressure will hopefully ease in coming months. Rates are expected to rise modestly but will remain low, and the housing market should remain stable throughout the rest of the year