Published October 1, 2026 in Market Update

Mortgage rates are high, but demand is still showing up in Primary market

Rates are high. That is true. Freddie Mac put the 30-year fixed rate at 7.03% as of September 24, 2026. But buyers are still writing offers. That is the one thing every homeowner here should know right now.

Nationally, the picture is softer. The National Association of Realtors reported that existing-home sales fell 2.0% month over month in August 2026. Realtor.com put the typical listing at 61 days on market for the week ending September 19, 2026. The Primary market is not following that script in every ZIP code.

The Real Estate Data Aggregator counted 1,864 pending sales across the Primary market in the three months ending July 31, 2026. That is real demand, spread across 20 ZIP codes, even with a 7% rate sitting on every buyer's calculator.

Some parts of this market moved fast

Not every area moved the same way. ZIP 92673 stood out. The Real Estate Data Aggregator counted 86 homes sold there in the three months ending July 31, 2026. That is up 38.7% from the same months of 2025. Pending sales in 92673 rose 31% year over year. The median sale price reached $1,800,000, up 9%. Homes there sold in a median of 26 days, which was 17 days shorter than a year before. The sale-to-list ratio hit exactly 100%, and 61.3% of homes went under contract within two weeks of listing.

Where competition showed up most

Several ZIP codes showed buyers moving quickly. The Real Estate Data Aggregator found that in 92673, 61.3% of homes went under contract within two weeks of listing. In 92691, that share was 43.2%, up 5 points from a year before. In 92780, it was 44.1%, up 10.8 points. In 92661, it was 45%, up 39.1 points. Speed like that does not happen in a market where buyers have given up.

Prices moved up in most ZIP codes

The Federal Housing Finance Agency reported that U.S. house prices rose 2.1% year over year between the second quarter of 2025 and the second quarter of 2026. Many ZIP codes in this market outpaced that. ZIP 92694 saw a median sale price of $1,350,000, up 13% year over year, according to the Real Estate Data Aggregator. ZIP 92653 reached $1,450,000, up 13.7%. ZIP 92660 hit $3,625,000, up 31.8%. Not every ZIP followed: 92626 dipped 4.7% to $1,525,000, and 92663 fell 28.1% to $2,685,000. So it is not a single story.

Supply is lean in most areas

Nationally, the National Association of Realtors reported 4.9 months of inventory supply, the highest level in over ten years. Most ZIP codes here sit well below that. The Real Estate Data Aggregator counted just 2.0 months of supply in 92691, 2.1 in 92780, 2.2 in 92673, and 2.4 in 92626. Lean supply gives sellers more footing, even when rates are high.

A few areas are slower, and that is worth knowing

ZIP 92657 had a median of 87 days on market, up 35 days from a year before, per the Real Estate Data Aggregator. Its sale-to-list ratio was 93.3%. ZIP 92661 had 7.8 months of supply. ZIP 92663 saw pending sales fall 23% year over year. Those areas are moving, but they take longer. Pricing matters more where supply is rising.

What this means for you

For buyers: high payments are real. But in many ZIP codes, competition is real too. Lean supply and quick contract times mean a well-priced home still draws offers. For sellers: demand is there, but it is stronger in some parts than others. Where supply is rising and days on market are climbing, price has to do more of the work.