Property prices and cost of capital test buyer readiness; Monthly Statistical Update (May 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 recently hit its lowest level in decades, signaling a recession is imminent in the second half of 2023;
• annual employment change, which continues to narrow, suggesting a negative turn is approaching; and
• the influence of buyer purchasing power on home price movement, as catapulting interest rates cause sellers to bow to pressure — and prices to fall.

Download the Monthly Statistical Update