Fall 2026 Housing Market Update: California, Colorado, Texas & Washington

By Daniel Ramirez

Key Takeaways

  • Freddie Mac's 30-year fixed average hit 7.03% for the week of September 24, 2026, its first weekly reading above 7% since January 2025 (6.30% a year earlier).
  • Nationally, NAR reported an August median existing-home price of $429,100 (+1.6% YoY) with 4.9 months of supply, the most in over ten years.
  • California's statewide median was $901,420 in August; Texas eased to $333,611 (-1.3% YoY); Denver metro held near $595,000; King County, WA slipped to $845,000 (-3.4% YoY).
  • Inventory is rising in Washington, Denver and Austin, which gives buyers more room to negotiate. Coastal California is still tight.

The Big Picture: Rates Crossed 7%

Mortgage rates rose quickly in September. Freddie Mac's Primary Mortgage Market Survey put the 30-year fixed at 7.03% and the 15-year fixed at 6.42% for the week ending September 24, 2026, up from 6.95% and 6.26% the week before. A year ago the 30-year averaged 6.30%.

Week (Freddie Mac PMMS) 30-yr fixed 15-yr fixed

Sep 24, 2026 7.03% 6.42%

Sep 17, 2026 6.95% 6.26%

Sep 10, 2026 6.76% 6.09%

Aug 27, 2026 6.66% 5.98%

Sep 2025 (year ago) 6.30% 5.49%

Several things pushed rates up. The 10-year Treasury yield reached about 5.11%, its highest level since 2007. Energy prices have risen, and the Federal Reserve raised its benchmark rate a quarter point, to 3.75%–4.00%, at its September meeting.

What that means for a payment: On a $400,000 loan, principal and interest at 7.03% comes to about $2,669 per month, compared with about $2,476 at last year's 6.30%. That is roughly $190 more per month. These are national survey averages, not a quote. Your rate depends on credit, down payment, loan type and the day you lock.

National housing (NAR, August 2026): Existing-home sales ran at a 3.98 million annual pace (-2.0% month over month). The median price was $429,100 (+1.6% year over year). Inventory rose to 1.62 million homes, which is 4.9 months of supply.

California

Measure (Aug 2026) Figure

Statewide median, single-family (C.A.R.) $901,420 (vs. $900,620 Aug 2025)

Sales pace, annualized (C.A.R.) 269,620 (+1.4% YoY)

San Diego County median (Redfin) $961,781 (+5.7% YoY)

San Diego median days on market 28 days

California sales and prices both rose slightly over the past year despite higher rates. Coastal markets are still the tightest. In San Diego County, active listings were down 5.6% from a year ago and 35.4% of homes sold above list price.

What it means for you:

  • At these prices, many buyers need a high-balance conforming or jumbo loan. Find out where your price falls before you shop.
  • First-time buyers should check CalHFA down payment programs.
  • Inland markets offer more room to negotiate on credits and repairs than the coast.

Read our San Diego & Carlsbad market guide.

Colorado

Measure (Aug 2026, Denver metro, REcolorado) Figure

Median closed price $595,000 (about flat YoY)

Closed sales 3,118 (-13% YoY)

Active listings 13,211 (-2% YoY)

Median days in MLS 29 days

Denver prices were about flat, but fewer homes closed and homes took longer to sell as summer ended. Detached homes held steady near $649,500. Condos and townhomes softened to about $370,000 (-4.9% year over year), per DMAR data.

What it means for you:

  • Buyers can often negotiate seller-paid closing costs or a rate buydown, especially on condos and townhomes.
  • CHFA programs can help with down payment and closing costs.

Read our Denver market guide.

Texas

Measure (Aug 2026) Figure

Statewide median sale price (Redfin) $333,611 (-1.3% YoY)

Homes for sale statewide (Redfin) 180,524 (-3.2% YoY)

DFW median list price (Realtor.com) $425,000 (-1.2% YoY)

Travis County (Austin) median (Redfin) $497,336 (-5.3% YoY)

Texas prices are still slightly below last year. The Texas Real Estate Research Center says the declines are easing, with Dallas–Fort Worth and Houston closer to stable and Austin still adjusting. Travis County had 6.5 months of supply, which is buyer's-market territory.

What it means for you:

  • Builders often offer rate buydowns and closing-cost credits. Compare the builder's lender with an independent quote.
  • Property taxes and insurance are a big part of the Texas payment. Budget for the full monthly cost, not just principal and interest.
  • First-time buyers should look at TSAHC and TDHCA assistance.

Read our Dallas–Fort Worth & Austin market guide.

Washington

Measure (Aug 2026) Figure

NWMLS active listings 24,675 (+22.0% YoY)

NWMLS closed sales -7.6% YoY

King County median, residential + condo $845,000 (-3.4% YoY)

King County months of inventory 4.3 (vs. 2.9 a year ago)

Washington has the fastest-growing inventory of our four states. King County single-family homes are still fairly tight at about 3.6 months of supply. Condos are much looser at about 7.3 months.

What it means for you:

  • High-cost King and Snohomish County buyers may qualify for higher conforming limits before needing a jumbo loan.
  • WSHFC down payment assistance is worth checking for first-time buyers.

Where Rates Fit In

Rates move every day with the bond market, inflation reports and the Fed. Don't try to time the bottom. Focus on a payment you're comfortable with today, and use seller or builder credits to lower your rate where the market allows it. If rates fall meaningfully later, refinancing may be an option.

Next Steps

  • Buying? Get pre-approved so you know your real budget.
  • Own a home? See whether your equity opens up options.
  • Not sure? A quick conversation costs nothing.

Get a personalized quote — no SSN required.

Sources

Figures are the latest published data as of September 24, 2026. Rates shown are national averages, not an offer of credit.

Frequently Asked Questions

What is the current average 30-year mortgage rate?

Freddie Mac's survey put the 30-year fixed at 7.03% for the week of September 24, 2026, and the 15-year fixed at 6.42%. Your own rate depends on credit, down payment, loan type and when you lock.

Are home prices falling in California, Colorado, Texas and Washington?

It depends on the market. California's statewide median was about flat year over year ($901,420), and San Diego rose 5.7%. Denver was flat near $595,000. Texas dipped 1.3%, with Austin down more. King County, WA fell 3.4%.

Which of these markets favors buyers right now?

Austin (6.5 months of supply), Washington (inventory up 22%) and Denver condos currently give buyers the most leverage. Coastal San Diego still favors sellers.

Related: See our monthly-updated Mortgage Rates 2026 forecast — what drives rates and whether they may go down this year.