Pending home sales are now declining, mostly due to interest rates rising and buyers being more cautious about making offers on homes. Locally in Mendocino County, our supply of homes for sale have increased, but overall our housing supply has not significantly grown and the rental market is still very tight, so overall demand should keep our market moving along, just more slowly than in past years.
-Karena Jolley, Realtor at Coldwell Banker Mendo Realty
https://www.mendohomes.com/
Referencing Realtor.com recent article:
https://www.realtor.com/news/real-estate-news/pending-home-sales-decline-for-4th-consecutive-month-as-interest-rates-rise/
