California’s February Home Sales Show Resilience Amid Rising Interest Rates

Forty counties saw an increase in sales compared to the same time last year, the Realtors association said.

A subdivision is built in San Marcos, Calif., on Jan. 31, 2023. Mike Blake/Reuters

Home sales in California climbed 12.8 percent in February despite rising mortgage interest rates, the California Association of Realtors (CAR) reported March 19.

According to CAR, single-family home sales surpassed 290,000 in February, up from a little over 257,000 in January. The increase marked the second consecutive month of double-digit growth in home sales, following a nearly 15 percent surge in January.