San Diego Market Update | April 16, 2026

Here’s your weekly snapshot of where the San Diego real estate market and mortgage rates stand right now.

Mortgage Rates This Week

Freddie Mac PMMS (April 16, 2026):

30-Year Fixed: 6.30% — down from 6.37% the prior week

15-Year Fixed: 5.65% — down from 5.74% the prior week

One year ago: 30-year was 6.83%, 15-year was 6.03%

MBA Weekly Survey (Week ending April 10, 2026):

30-Year Fixed (conforming): 6.42% — down from 6.51%

15-Year Fixed: 5.85% — down from 5.90%

Purchase applications: Down 1% week over week, and 3% lower year over year

Refinance applications: Up 5% week over week (first rise in five weeks), 15% higher year over year

Rates dropped for the second consecutive week — the Freddie Mac 30-year average hit 6.30%, its lowest level in a month and more than half a point below where it sat a year ago at 6.83%. The decline finally sparked some refinance activity, with refi apps jumping 5% after five straight weeks of declines. Purchase demand, however, remains soft — applications slipped 1% and are running 3% below last year's pace as economic uncertainty keeps some buyers on the sidelines. If this downward rate trend holds, we could see a meaningful pickup in activity heading into May.

National Housing Overview

NAR Existing-Home Sales (March 2026):

Sales pace: 3.98 million (SAAR) — down 3.6% from February and 1.0% from one year ago. This is a nine-month low.

Median existing-home price: $408,800 — up 1.4% year over year, marking the 33rd consecutive month of annual price gains.

Single-family median: $412,400 (+1.3% YoY) | Condo median: $371,500 (+2.3% YoY)

Inventory: 1.36 million units — 4.1 months of supply (up from 3.8 months in February)

Days on Market: 41 days (median)

First-Time Buyers: 32% of sales

Cash Sales: 27% of transactions

Affordability Index: 113.7 (down from 117.5 in February)

What This Means

For buyers: Rates are trending in your favor — the 30-year fixed just hit a month-low at 6.30%, and it's over half a point cheaper than this time last year. In San Diego specifically, condos and townhomes offer real negotiating power right now with prices down and days on market stretching to 50 days. Detached homes remain competitive with tight inventory, so if that's your target, be prepared to move decisively on the right property.

For sellers: San Diego's detached home market continues to reward well-priced listings — limited supply means serious buyers are still competing. But if you're selling a condo or townhome, pricing strategy matters more than ever. Days on market are up significantly and prices have softened. Nationally, inventory is building slowly, which means the window of maximum leverage is narrowing — but locally, 2.2 months of supply still puts you in the driver's seat.