Mortgage Rates Hit Three-Year Low

Mortgage Rates Hit a Three-Year Low in the Conejo Valley and many experts expect they could drift lower.

If you have been waiting for prices and rates to ease, this may be the moment to sharpen your pencil and talk with a mortgage lender.

It also helps to focus on local Southern California stats, not national headlines. Local conditions can look very different from the national story.

If you are holding off because of a scary headline, pause and look for the source data. Some viral claims (like ‘44% of homes are owned by investors’ or ‘Orange County prices are down 42%’) are often missing context or flat-out inaccurate.

The good news is currently in the local statistics.

Single Family Homes

Median sales prices are down about 6%, which is good news for buyers pairing lower prices with mortgage rates dipping below 6%.

Closed sales are up 20% year over year, and the median time on market is just 26 days.

Sellers are pricing closer to recent comps, with an average list-to-sale ratio near 99%.

The key stat to watch is months’ supply of inventory. A balanced market is often around six months of inventory. Right now we are closer to 2.9 months, which still favors sellers.

Attached Homes (Condos and Townhomes)

Attached home sales are up 5% from the end of 2025. Wise buyers should be sharpening those pencils! Expectations from most sources is that home prices could rise about 4-5% in 2026.

Closed sales rose rapidly at the beginning of 2025 as buyers moved in at last years prices even with slightly higher interest rates. Sales dropped as active inventory dropped at the end of 2025.

Median Days on the Market dropped 21.4% from this time last year anbd 42.7% from last quarter. Read that stat again. Median days on the market is 28 days!

So here’s the number to watch…and act on. Months Supply of Inventory is 5.3 months. That is a big change for buyers! 6 months Supply of Inventory is considered a normal market. Anything less, is a seller’s market. Anything more is considered a buyer’s market. This is the closest to a buyer market that we have seen in years, but still fair to sellers.

If you, or someone you know, is considering buying or selling, the next two months offer great opportunities. Give us a call to review the current market to see if it’s right for you!