According to the California Association of Realtors, California home sales retreated in April 2022 as rising interest rates and higher home prices depressed housing demand even as the statewide median home price set another record for the second straight month, primarily due to strong sales at the top end of the market.
Housing demand in California remained strong in March 2022 as the effects of rising interest rates have yet to be borne out while the statewide median home price sets another record high, primarily due to a surge in sales of higher-priced homes.
According to a new CBRE survey, investors are planning to allocate more capital to healthcare real estate in 2022, highlighting rising confidence in these resilient asset classes, including life sciences real estate, medical office buildings, and ambulatory service centers.
Despite higher interest rates alongside geopolitical uncertainty caused by the Russia-Ukraine conflict, California's housing market continued to maintain a solid sales pace even while the number of homes sold were lower than last year's unusually strong market.
According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending March 11, 2022, U.S. mortgage applications decreased 1.2 percent from one week earlier.
Posted on November 30, 2020
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