06/27/2026
We have many clients asking us our opinion how the market is doing. It’s definitely the time for buyers to get a great deal!
Here’s what’s happening as of June 2026:
* Home sales have slowed. High mortgage rates (around the mid-6% range) and affordability issues have reduced buyer demand. New home sales have fallen for two consecutive months.
* Inventory is increasing. More homes are coming onto the market, giving buyers more choices and reducing the intense competition seen in recent years.
* Prices are softening. Nationally, prices are mostly flat or down slightly, but it’s very regional. Some markets are seeing modest price declines while others remain stable.
* Buyers have more negotiating power. Price reductions, seller concessions, and mortgage rate buydowns are becoming more common.
For Southern California, including areas like Menifee, Canyon Lake, Murrieta, and Temecula, the market has generally shifted from a strong seller’s market toward a more balanced market. Well-priced homes still sell, but many listings are sitting longer, and buyers are negotiating more than they could a year or two ago.
