Home sales plunge 31% in July with higher mortgage rates

Home sales plunge 31% in July with higher mortgage rates

California home sales slowed for the fourth consecutive month in July, as higher interest rates and near-record-high prices are affecting affordability and causing more home shoppers to hold off. Sales tumbled to an adjusted annualized rate of 295,460 homes in July, a 14.4% decline compared to June and off a staggering 31.1% from a year…

7 California cities are among the most at-risk housing markets

7 California cities are among the most at-risk housing markets

Higher mortgage rates are cooling off the red-hot housing market, and several California cities are among the most at risk for fewer sales and sliding prices. Three of the 10 cities most likely to experience a decline in home prices are in California – and seven of the top 20, according to Redfin.  The Inland…