Over my 46+ years working with buyers and sellers across Palo Alto, Mountain View, Menlo Park, and the surrounding mid-peninsula, I’ve seen the California housing market move through many cycles. Right now, we’re entering a period of steadier growth: home prices are projected to rise by a modest ~3% to ~4% per year through 2028. For those navigating these decisions, this shift means a more predictable environment compared to the volatile surges of previous years.
With active listings around ~156,300, buyers are seeing more options and less urgency—a welcome change, although affordability remains a real challenge. Only about 18% of California households qualify for a typical mortgage, down from 31%, keeping competition especially fierce for entry-level homes. Properties are still selling near 100% of asking price, and 30-year fixed rates are hovering around 6%. This dynamic is shaping a market where careful preparation and strategic moves matter more than ever.
In major urban centers like Los Angeles County, it may take until after 2028 for sales to return to previous levels. But for the broader state, the current landscape is one of stability and predictability—qualities that can help buyers and sellers plan thoughtfully. As always, my focus remains on listening closely to your needs and guiding you through every step with care, whether you’re stepping into the market for the first time or are a seasoned homeowner.
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