California Weekly Date: February 21 - 27

Market Report provided by California Association of Realtors

The sharp rise in interest rates caused the market to slow somewhat over the past two weeks. However, rates remain low by historical standards and fears about inflation, which have been bolstered by the probability of a new round of pandemic relief, are likely overblown. Interest rates remain very low by historical standards, and although inventory remains tight, buyer demand remains strong. In addition, there have been several encouraging economic reports this week so the housing market should remain relatively robust, albeit growing at a slower pace than we saw the previous six months.