C.A.R. economists discuss the latest housing market data in the wake of the Federal Reserve's largest single rate-hike in decades. The number of home sales dipped to its lowest levels in years outside of the initial shutdown at the start of the pandemic, and competition has begun to ease from the near-frenzy levels of the past two years. There is also heightened economic risks as consumers face increasing headwinds, and businesses become less confident about 2023. How this all affects housing in California is covered in Episode 97.