(PropertyWire.com) – The first interest rate rise in the United States for a year could hit the housing market in California where there are already signs of the real estate sector cooling, new research suggests.
The property market in California have been regarded as overheating for a while with house prices falling in some locations such as San Jose which has seen values fall for the first time since 2011.
According to the latest analysis report from real estate firm Clear Capital, San Jose, one of the nation’s previously top performing housing markets, is reporting negative quarterly price growth for the first time in five years.
