As the home prices are leveling off in Southern California amid rising interest rates, Lancaster of Los Angeles County, Mission Viejo of Orange County, and Fallbrook of San Diego County are among the cities with the most home sales in May.
Otto Catrina, the president of the California Association of Realtors, said the housing market has been cooling down since May.
“We’re beginning to see signs of a more balanced housing market with fewer homes selling above list price and homes remaining on the market a little longer than in previous months,” said Catrina, a Bay Area real estate broker, in a statement….