2023’s real estate market trends influence all participants; Monthly Statistical Update (September 2023)

The Monthly Statistical Update (MSU) keeps agents and brokers current on the market trends affecting California real estate transactions.

This month, we’re covering the:

yield spread, which has remained negative for several months, indicating the economic recession will arrive by the end of 2023;
Buyer Purchasing Power Index (BPPI), which shows today’s mortgaged homebuyers are limited to borrowing 11% less than a year ago due to higher interest rates alone; and
gradually rising personal savings rate, evidence of the increasing tendency to build up a rainy-day fund in the face of economic uncertainty. In the long run, higher savings rates are good news for the housing market, as they provide a much-needed boost to down payment funds.