California home prices increased by 20% for the second consecutive month in February, despite higher mortgage rates and fewer listings.
Plus, most Californians moving are relocating within the state, single-women buyers are increasing in some cities, and the state has six of the hottest housing markets in the U.S.
California home sales were the best since May 2009 and prices increased by double digits for the fifth straight month.
Record-low mortgage rates coupled with the COVID pandemic are causing a huge demand for homes — and increasing prices.
Home prices reached a record for the fourth consecutive month in September, and the most homes sold in more than a decade.