Monday Market Brief: What’s Hot, What’s Not

Southwest Riverside County Real Estate: The Big Picture

Buying a home is still costly. Many buyers want more room in their budgets. At the same time, sellers face more competition.

Now, a new federal plan aims to lower some of the costs tied to owning a home. The plan may help some buyers in the future. However, most of the changes are not in place yet.

So, what does this mean for our local market? Let’s look at the numbers and what they tell us.

Local Home Prices: Four Cities, Four Markets

Each city has its own price trends. Even homes in the same area can sell for very different amounts. That’s why local data matters.

Source: Redfin. Figures show rolling three-month median sale prices for all home types. Temecula, Murrieta, and Menifee data end September 2026. Winchester data end August 2026. These are past sales, not current list prices.

What About Riverside County?

In September, Riverside County’s median single-family home price was $620,000. That was 0.6% lower than a year ago.

Home sales also fell 12.7% from last year. Across California, sales fell 6.5%. Yet the state median price rose 1.7%.

In other words, fewer homes sold. But prices did not fall at the same rate.

Mortgage Rates: A Small Step Down

Mortgage rates eased last week. Freddie Mac reported a 30-year fixed rate of 7.32% on October 22. That was down from 7.40% the week before.

For a $600,000 loan over 30 years, that rate drop could save about $33 per month in principal and interest.

Every dollar helps. Still, a small rate drop does not solve the full cost of buying a home.

Buyers must also plan for taxes, insurance, repairs, and other bills. So, the goal should be a payment that fits daily life.

Rates are national survey averages for qualifying conventional loans. Your actual rate may differ. The payment example does not include taxes or insurance.

New Housing Plan: What Could Change?

On October 22, the White House issued a new order aimed at lowering some housing costs.

The order asks federal agencies to study or put new plans in place. However, it does not make every proposed benefit available today.

New Homes Are Part of the Competition

Across Winchester, Temecula, Murrieta, and Menifee, buyers can often choose between resale homes and new builds.

Some builders offer help with closing costs, lower loan rates, or home upgrades. These offers can be appealing.

However, buyers should compare the full cost. That includes taxes, HOA fees, lot costs, and loan terms.

Already Own a Home? Here’s What to Watch

You do not need to be buying or selling to care about the housing market.

For example, changes in home values can affect your equity. Higher insurance and repair costs can also affect your monthly budget.

If you plan to refinance, compare the new loan costs with your savings. Also, think about how long you plan to keep the home.

If you may sell soon, review recent sales in your area. Online estimates can help you start, but they do not tell the whole story.

What Should We Watch This Week?

The Federal Reserve meets on October 27 and 28. Its next policy decision may affect how markets view inflation and future interest rates.

However, mortgage rates do not always follow the Fed’s rate. Bond markets and inflation also play a role.

Here at home, we’ll watch new listings, pending sales, price cuts, and builder offers across our four cities.

Final Thoughts: Plan First, Then Decide

There is a lot of talk about housing costs right now. Some of that news may lead to real savings in the future. But today, families still need clear facts and sound plans.

For buyers, that means knowing what fits the budget. For sellers, it means pricing with care. And for homeowners, it means keeping track of home value and long-term goals.

Most of all, there is no need to rush a major choice because of a headline.

A good plan starts with good information. Then, you can move forward with more confidence.