Real Estate market update
The last week of economic and market data shows that housing continues to be the bright spot in an otherwise turbulent economy. Recently released data shows that 2021 was the best year for California’s housing market since the recovery from the Great Recession began over a decade ago. Realtors are optimistic and the state continues to see signs of broader economic improvement. However, rising rates and their impact on buyer demand, have joined a lack of inventory as the key headwinds to home sales in 2022.