US home prices ↑~0.3% MoM on a seasonally adjusted basis in Mid-Q3, extending gains while easing slightly from the prior two months.
Yearly, US prices ↑~4%, the fastest growth pace in 12 mo, showing values kept climbing nationwide even as monthly momentum cooled recently.
Mid-Q3 brought the strongest buyer's market on record, as elevated housing costs and economic uncertainty kept demand subdued while homes for sale continued rising.
Even with softer monthly readings, prices were not falling nationally because many homeowners held substantial equity and faced little pressure to accept steep discounts.
For buyers, slower growth meant room to wait, compare, and negotiate; for sellers, realistic pricing from the start offered a better chance to attract attention.

The state law created a 60-day ministerial approval path for subdivisions with up to 10 homes on eligible infill sites when requirements were met.
For qualifying projects, approvals bypassed environmental review and public hearings. In multifamily zones, new small lots needed at least 600 sq-ft each.
City standards capped avg. floor space at 1.75K net habitable sq-ft. For the 10-unit cap, multifamily zones excluded ADUs and JADUs.
For the 10-unit cap, single-family zones excluded only JADUs. Los Angeles had pioneered small-lot housing earlier through a local ordinance encouraging compact ownership.
The law aimed to expand homeownership opportunities, but whether these projects functioned as starter homes remained open. Later changes opened vacant single-family lots to redevelopment.

California ranked second in the state comparison, with median home equity at $550K and median household net worth at $273.8K after debts and non-housing assets.
The gap shows how California homeowners can be equity-rich yet less cash-rich, as high housing costs translated into home values that outweighed broader balance sheets.
High home equity can meaningfully boost net worth, but when most wealth sits inside the house, household financial flexibility may become more limited.
For California owners, knowing how much wealth is tied to property can support smarter choices around refinancing, downsizing, or broader financial diversification.
California's standout equity levels highlighted both market strength and concentration risk, giving homeowners a useful snapshot of how property shapes overall household wealth.

With mortgage rates holding above 7% and the market reacting to further Fed moves, affordability is top of mind for many buyers. As someone who guides clients through complex decisions—whether it’s your first purchase or you’re investing in a multi-family or commercial building—I always stress the value of planning ahead. Recent studies recommend preparing for rate changes: consider what a half-point jump in the next three months, three-quarters in six, or a full point in a year could mean for your budget.

Interestingly, buyers later in the year often find more negotiating room. Typical homes were about 5% less expensive in early Q4 compared to late Q2, with less competition and more time to negotiate crucial terms. Last month’s inventory offered around a five-month supply, which meant stronger bargaining power—not just for price, but also closing costs, discount points, or even temporary rate buydowns.

While the market is still anticipating additional Fed tightening, the long-term aim is to rein in inflation, which could eventually bring mortgage costs down. My focus remains on helping clients make informed, confident moves—no matter how the market shifts.

California’s housing market is shifting into a phase of measured, steady growth—a change that brings both opportunities and challenges for buyers and sellers. Projections show home prices rising at a moderate pace of around 3% to 4% annually through 2028, moving away from the dramatic surges of recent years. With approximately 156,300 active listings on the market, there’s noticeably more choice and less pressure to rush decisions, especially as inventory is expected to continue building through 2027.

However, affordability remains a significant concern: only about 18% of California households currently qualify for a typical mortgage, down from 31%. This keeps competition high for entry-level homes. Most properties are still selling close to 100% of their asking price, supported by 30-year fixed rates hovering near 6%, a range that’s expected to hold steady for the time being.

Major urban centers like Los Angeles County may not see a return to previous sales volumes until after 2028, but the broader California market is settling into a more predictable rhythm. My approach has always been to guide clients through these nuanced shifts with honest advice, sharp market insights, and a commitment to keeping the process smooth and informed. Whether you’re thinking about your next investment or planning a move, I’m here to help you navigate this evolving landscape with clarity and confidence.

Navigating today’s real estate landscape means understanding how sellers are adapting to shifting buyer leverage. Over the rolling 3-month period ending mid-Q3, sellers offered concessions in about 45% of U.S. home sales—the highest mid-Q3 share we’ve seen since at least 2020. That’s up from roughly 43% a year ago, reflecting how increased inventory and lighter competition are changing the pace and structure of negotiations. Concessions now often go beyond simple price cuts and can include assistance with repairs, closing costs, or even mortgage-rate buydowns—giving buyers more options to control their total purchase costs. In fact, around 16% of homes sold in mid-Q3 combined a price reduction with a seller concession, further easing the path for buyers. As someone who prioritizes strong negotiation and clear communication, I’m always monitoring these trends to help clients make informed decisions and structure deals that truly work for their goals.