According to the California Association of Realtors, housing demand in California cooled further in July 2022, as the effects of rising interest rates and high home prices hit would-be homebuyers, dragging home sales below the annualized 300,000 benchmark level for the first time since May 2020.
According to the National Association of Home Builders, rising mortgage rates, high inflation, low existing inventory and elevated home prices contributed to U.S. housing affordability falling to its lowest point since the Great Recession in the second quarter of 2022.
According to the California Association of Realtors, sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 344,970 in June 2022.
According to global property consultant CBRE, there is a "flight to quality" playing out across 12 major U.S. markets as office-using companies adapt their workplaces for hybrid work.
According to Eliza Theiss of CommercialEdge, remote and hybrid work models were considered niche setups just a little over two years ago, but today, these trends seem here to stay.
Posted on April 29, 2022