Home sales volume finds a new low, ARMs no longer an option to extend purchasing power; Monthly Statistical Update (April 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:

• California’s monthly home sales volume, which hit a historic low in January 2023;
• mortgage interest rate movement, with FRM rates expected to fall back in 2023; and
• the ARM-FRM crossover, which makes riskier ARMs even less appealing for homebuyers seeking to extend their borrowing capacity — eliminating any lingering price support present before ARMs exceeded FRM rates.

Download the Monthly Statistical Update