According to Redfin, the “fastest cooling housing markets” in the U.S. include: San Jose (1), Sacramento (2), Oakland (3), Stockton (5), and San Francisco (10). All were down significantly in pending sales.

Meanwhile, prices dropped slightly: San Francisco at 0.1 percent, San Jose at0.77 percent.

Rising mortgage rates continue to price many homebuyers out of the market. However, analysts say that low inventory will keep prices from dropping signficantly.