Market Changing?

[Bill B.]

I received a cold call from a RE agent last week asking if my family was still in the market to buy a primary residence. During the discussion I asked why she was calling me in this hot sellers market. Her response was "in the last couple of weeks, things have just slowed down. We are not seeing five offers and bidding wars for each property any more." SoCal BP members, is this what everyone is seeing? Is the SoCal market slowing? How about other areas of the country? If so, what is everyone's feeling about the causes? The Fed? Rising interest rates? Too fast a climb in too short a period? How do experienced investors monitor this?