California home prices increased by 20% for the second consecutive month in February, despite higher mortgage rates and fewer listings.
California home sales were the best since May 2009 and prices increased by double digits for the fifth straight month.
What pandemic or recession? Home prices reach a new record, thanks to the lowest-ever mortgage rates.
As the economy reopened in June, home sales followed as the always important summer home-buying season got hot despite the ongoing uncertainty of the COVID pandemic.
Home prices and sales soared in February, but as concerns about the economy and the health risks of COVID-19 spread, the solid market will struggle in the coming months.