Rising Interest Rates Cools Off Southern California's Red-Hot Real Estate Market

CBS Los Angeles

September 22, 2022

With interest rates rising another .75%, Southern California's once red-hot real estate market has calmed down.

"Every time we'd put an offer in it wouldn't go through because somebody put $50,000 more, $60,000 more," said homeowner Ariana Sipavich.

Sipavich finally closed on her home purchase about four months ago, finally buying a fixer-upper.

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