SF Home Prices Jump 17% As Market Slides

Mortgage rates have eased for a fourth straight week, giving marginal relief to buyers even as affordability remains stretched across California. Statewide, sales activity has cooled sharply, with Los Angeles, San Diego, and Orange County all posting steep annual declines in closed and pending transactions, and fewer than one in five California households able to afford the median-priced home. Yet the picture isn’t uniform: San Francisco home prices jumped sharply even as national prices fell for a third straight week, a reminder that pockets of this market are tightening even as the broader state adjusts to higher borrowing costs and increasingly cautious buyers.

In The News:

Redfin — Homebuyers Get Some Relief as Prices Decline for Third Straight Week (November 5, 2026) — U.S. home-sale prices fell for a third straight week nationally, with the median at $388,604, down slightly year over year, while pending sales sank 16.4% annually to one of the lowest levels on record. San Francisco broke from that trend, posting the largest price gain of any major metro tracked, up 17.3% year over year, as San Jose led the country in new-listing growth.

United States Real Estate Investor — Mortgage Rates Fell a Fourth Straight Week to 7.11% (November 12, 2026) — Freddie Mac’s benchmark 30-year fixed rate slipped to 7.11%, its lowest level in seven weeks and down nearly 30 basis points from October’s two-year high of 7.40%. The 15-year rate fell even faster, to 6.45%. Despite the pullback, borrowers still pay roughly $173 more a month on a typical loan than a year ago, and odds of a near-term reversal remain elevated.

CalHomeNews — California’s Housing Market Is on the Ropes (November 11, 2026) — Pending home sales nationwide dropped 17% year over year in October, but California’s decline was steeper in several metros, with Bakersfield down 32%, San Diego down 25.6%, and Los Angeles down 21.7%. Only 19% of California households can now afford the roughly $900,000 median-priced home, requiring an income near $228,000, though about three-quarters of homeowners still hold mortgages under 5%.

OC Real Estate Inc. — OC Housing Report: Active Listings Slip as Rates Ease Toward 7% (November 9, 2026) — Active Orange County listings dipped slightly to 4,912 homes while the median single-family price held at $1,395,000. Pending sales slipped to 1,445 after mortgage rates eased back toward 7% for the first time since September, and closings pulled back to 330 following the prior week’s spike — a pattern the report attributes to normal seasonal volatility rather than a deeper slowdown.

Korea Daily — LA Housing Market: Mortgage Rates Above 7% Trigger 18% Drop in Sales (November 6, 2026) — Existing home sales in the Los Angeles metro fell 18% year over year in October, more than double the 8.7% national decline, as the average mortgage rate climbed to 7.33%. San Diego sales dropped 17.2% and Riverside fell 16.8% over the same stretch, even as LA’s median home value held near $950,752, up slightly from a year earlier.