Published October 5, 2026 in Market Update

A higher-rate market is splitting Primary market into faster and slower parts

By Michelle Doherty

Real estate, Primary market

Freddie Mac put the 30-year fixed rate at 7.28% as of October 1, 2026. That matters because it is pushing buyers to compare more homes before they commit. The result: some ZIP codes in Primary market are still moving fast, and some are giving buyers more time. Which one you are in changes everything.

These numbers cover the three months ending July 31, 2026. They are real counts of homes in this market, from the Real Estate Data Aggregator.

The national picture

The National Association of Realtors counted 4.9 months of supply across the U.S., the highest level in over ten years. Primary market is tighter than that in every ZIP code. But the gap inside this market is real.

Supply by ZIP code: the split is clear

The Real Estate Data Aggregator counted supply ranging from 1.9 months in 92708 to 3.7 months in 92648. That is nearly double. A seller in 92708 faces a very different market than one in 92648.

The faster side: 92708 and 92683

In 92708, the Real Estate Data Aggregator counted 1.9 months of supply. That is down 0.2 months from a year ago. Pending sales jumped 16.5% year over year. More telling: 58.5% of homes went under contract within two weeks of listing, up 16.7 points from last year. Sellers here still need to be ready for quick offers.

In 92683, supply sits at 2.6 months, up 0.8 months from last year. That is the biggest year-over-year supply increase of any ZIP code here. Still, 58.8% of homes sold above list price, up 9.4 points. The market is a little looser than a year ago, but buyers are still competing.

The middle ground: 92646, 92647, and 92626

These three ZIP codes sit between 2.2 and 2.4 months of supply. Homes are still selling, but not always above list. In 92646, the Real Estate Data Aggregator found the median sale price dipped 3.6% to $1,195,000. Only 34.9% of homes sold above list, down 5.1 points. Buyers here have a little more room.

In 92647, the median sale price rose 4.1% to $1,275,000. But homes took a median 42 days to sell, 8 days longer than last year. That is the biggest time increase of any ZIP code in this market. Price up, but patience needed.

In 92626, new listings jumped 26.2% year over year, the largest increase here. The Real Estate Data Aggregator counted 106 new listings. More choice for buyers, but the median sale price still dipped 4.7% to $1,525,000.

The slower side: 92648, 92649, and 92627

These ZIP codes have the most supply and the longest wait times. In 92648, the Real Estate Data Aggregator counted 3.7 months of supply. That is the highest in Primary market. The median sale price dipped 4.7% to $1,525,000. Homes sold took a median 41 days. Not every home here sold fast, and pricing carefully matters more.

In 92649, the median sale price rose 14.3% to $1,515,000, the biggest price gain here. But homes took 49 days on market, the longest of any ZIP code. And only 27.3% of homes went under contract within two weeks. Buyers have time to look.

In 92627, the median sale price rose 11.3% to $1,600,000. But homes sold fell 23.4% year over year, the sharpest drop in this market. Supply rose 0.9 months to 3.1 months. Fewer sales, more homes sitting: sellers need a sharp price.

What rates are doing to the whole picture

Freddie Mac put the 30-year fixed rate at 7.28% on October 1, 2026. Realtor.com noted rates crossed 7% in late September for the first time since January 2025. That keeps some buyers on the sideline. Realtor.com also counted active listings up 6.3% from a year ago, the fastest pace in at least six months. More supply nationally, and rates above 7%, push buyers to slow down and compare.

Even so, the Federal Housing Finance Agency found U.S. house prices rose 2.1% year over year through the second quarter of 2026. Prices are not falling broadly. They are just rising more slowly in some places than others.

Sold above list: where competition still runs high

Even in a higher-rate market, most ZIP codes here still had homes selling above list. The Real Estate Data Aggregator found 58.8% of homes in 92683 sold above list, the highest share in Primary market. In 92649, only 21% did. That is a wide gap on the same market, as of October 4, 2026.