Southern California’s housing market continues to show remarkable steadiness, even as 30-year mortgage rates climbed into the low-7% range by October 1—up from the mid-6% range at the end of summer. I’ve seen firsthand how these rate shifts are shaping real decisions for families and individuals across our communities, especially those navigating the sale of a loved one’s home or relocating for life’s next chapter.
Single-family home prices have held strong in this climate, while the condominium market has felt more pressure. Rising insurance premiums, larger reserve funding requirements, and new balcony repair mandates have all contributed to higher HOA fees; some buildings are even implementing special assessments. These added costs are making an impact on buyers’ purchasing power and, in turn, making it even more crucial for sellers to approach pricing and negotiations with openness and realism.
As we move through this quarter, my advice—especially for executors, trustees, and families navigating probate or trust sales—is to focus on your specific needs, recent neighborhood sales, and the current inventory, rather than broad national headlines. Each situation is unique, and a calm, well-informed perspective goes a long way in reaching the right outcome.
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