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August 27, 2026

Oct 6
3 min read

Is this the worst time to buy a house in California? Why timing really is everything

MSN


It’s easy to see the steep median home prices today and think it’s never been worse, but California has long dealt with high prices. Rising prices and reforms making lending more stringent, however, have changed the demographic of the median homebuyer over the past two decades.


“The average California home buyer today looks very different than a generation ago,” CALIFORNIA ASSOCIATION OF REALTORS® President Tamara Suminski told the Los Angeles Times in a written response to questions. “Buyers are entering the market later, saving longer, and facing higher barriers to home ownership as home prices, mortgage rates, living costs, and years of limited housing supply continue to strain affordability,” she wrote.



California Cities Are Evading State Mandates To Build More Housing, Lawsuits Claim


Pro-housing groups from the nonprofit Californians for Homeownership have filed lawsuits accusing San Diego, San Francisco and Montebello of unfairly blocking more housing development near transit. The group, which is financially backed by the CALIFORNIA ASSOCIATION OF REALTORS®, said the suits aim to compel the cities to speed up approval of new projects.


The three cities have misinterpreted the law or used other restrictions to get around it, C.A.R. President Tamara Suminski said in a statement. “Cities throughout California must play by the same set of rules established by our Legislature for the development of housing. Through these new lawsuits, Californians for Homeownership continues to play a vital role in addressing housing affordability through impact litigation.”



Proposition 37 proposes $25 billion loan program to help Californians buy homes

KCRA 3 Sacramento


Proposition 37 is a measure on the November ballot that proposes a $25 billion loan program to help California residents overcome the challenge of affording down payments on new homes. It is a revenue bond that would not cost taxpayers any money.


The measure, authored by former state Senate Majority Leader and California Assembly Speaker Bob Hertzberg, would allow the state government to issue bonds to help residents borrow up to 17% of their down payment, requiring them to contribute at least 3% themselves while their primary mortgage would cover the remaining 80%.


“Homeownership is the biggest thing to create generational wealth, not even a question. Instead of rent, you have a house that rises in value, you're paying down the mortgage. It creates real value, real generational wealth for people.”



Stable Credit Scores Mask Growing Mortgage Affordability Divide

National Mortgage Professional


The average American’s credit score is holding steady. Beneath that stability, however, the divide between financially secure consumers and borrowers struggling with housing costs is widening.


The national average FICO Score stood at 714 in April, unchanged from October 2025 and one point lower than a year earlier. Mortgage delinquencies appeared reassuring, but the data masks growing pressure among lower-scoring borrowers and mortgage payments that have risen faster than inflation.


The findings point to an increasingly important distinction: consumers can maintain a solid credit score without having the income or monthly cash flow needed to support today’s housing costs. Debt-to-income ratios now account for more than one-third of mortgage denials, according to a White House economic report.



Mortgage rates rise, bringing the average rate on a 30-year home loan to where it was 4 weeks ago

Associated Press


Mortgage rates ticked higher, nudging the average long-term U.S. home loan rate closer to its recent high for the year. The benchmark 30-year fixed mortgage rate edged up to 6.66% from 6.65% the week before. One year earlier, the average rate was 6.56%.


The average rate returned to where it was four weeks earlier and remained just below the year’s high of 6.69%.




 
 
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