Interest Rates: Still a Wildcard, But Stable for Now

Mortgage interest rates have been bouncing around quite a bit over the past 12 months, and while they’ve come down slightly from their peak, they're still higher than the ultra-low rates we saw a couple of years ago.

• As of July, the average 30-year fixed rate is hovering in the 6.4–6.7% range.
• Many experts predict modest decreases by early 2026, but nothing dramatic.

What this means for you: If you find a home that fits your needs and budget, locking in a rate now could make sense—especially with refinancing options available later. Waiting for a lower rate could mean more competition and higher prices when that happens.

Inventory: More Homes, More Choices

This summer, we're finally seeing more inventory hit the East Bay market — especially in areas like Oakland, Concord, Walnut Creek, and Richmond. Many sellers who waited through the spring are now listing their homes, hoping to catch motivated summer buyers.

• Inventory is up 15–20% compared to early spring.
• More new construction and off-market listings are becoming available as well.

What this means for you: More choices can mean better pricing power and less pressure to overbid. If you were feeling discouraged earlier this year, now might be the window you’ve been waiting for.

Buyer Competition: Cooling, But Not Gone

Earlier this year, we saw intense bidding wars, especially for homes in popular school zones or near BART. That’s still happening — but less frequently.

• Fewer buyers are entering the market mid-year due to travel, school schedules, or rate fatigue.
• Properties that are well-priced and move-in ready still attract multiple offers, but the frenzy is more manageable.

What this means for you: You may not have to compete against 10+ offers anymore. Some sellers are even open to negotiation, especially if their home has been on the market a few weeks.

What’s Likely Heading Into Fall?

Traditionally, the fall market in the East Bay slows slightly, but in recent years, serious buyers and motivated sellers have kept activity going strong into October and November.

If interest rates fall slightly and inventory tightens again (which is likely), we may see a rebound in buyer competition after Labor Day.

So, Should You Buy Now or Wait?

Buy now if:

• You find a home that fits your lifestyle and long-term goals.
• You're financially prepared and pre-approved.
• You want to take advantage of less competition this summer.

Wait if:

• You need more time to save, improve credit, or figure out your priorities.
• You’re very sensitive to interest rates and are willing to risk a more competitive fall market.
• You're not finding the right home (yet) — in which case, let’s set you up for off-market opportunities.