In the Bay area, real estate market indicators remain very strong: demand for homes is still very high, inventory extremely low. So far, buyers do not seem significantly rattled by stock market gyrations, and increasing interest rates may be motivating some to buy sooner rather than later. (As of the first week of February, mortgage interest rates have risen 14% in 2022). 

As the new year wakes up, a common dynamic in heated markets is for buyers to jump back in much faster than sellers: demand outpaces supply right from the start, with the usual results (multiple offers, overbidding, fast sales), even as the number of new listings starts climbing. This describes 2022 to date, but more will be known when the spring selling season- typically the biggest of the year- really gets underway.