San Diego Market Update | March 18, 2026

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

Mortgage Rates This Week

The 30-year fixed rate climbed to 6.30% for the week ending March 13, according to the Mortgage Bankers Association — the highest since December 2025. Freddie Mac's latest weekly average came in at 6.11%. The 15-year fixed sits at 5.50%.

Despite the rate bump, mortgage applications for home purchases edged up 0.9% last week, and refinance applications remain 69% above this time last year. Rates are still more than half a percent lower than March 2025, and most forecasters expect them to stay in the low-to-mid 6% range through 2026.

National Housing Overview

NAR's latest data shows existing-home sales rose 1.7% in February to a seasonally adjusted rate of 4.09 million — beating expectations. The national median home price hit $398,000, up 0.3% year-over-year, marking the 32nd consecutive month of annual price gains. Inventory nationally stands at 1.29 million units (3.8 months of supply), up nearly 5% from a year ago. Affordability has improved for eight consecutive months.

What This Means

If you're thinking about buying, the combination of improved affordability and a Fed that's expected to cut rates later this year creates a window worth paying attention to.

If you're thinking about selling, pricing accurately from day one has never been more important — overpriced listings are sitting.