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In the past 30 days, on June 17, 2026, we have seen the U.S. and Iran enter into a 14 point truce agreement - that was intended to transition into a long lasting agreement – quickly dissolve as soon as the ink was dry. Despite this set back, the parties are now engaged in further peace talks with hopes of a final peace treaty.
While the on again off again nature of the Iran War continues, the real estate market interestingly has not reacted too dramatically with the changing tides. The past month brought a mix of steady mortgage rates, improving buyer activity, and encouraging signs for affordability across California. Even the Federal Funds committee held the Federal Funds Rate steady at their meeting on June 17.
One of the most encouraging developments is that pending home sales reached a six-month high in May, showing that buyers are adapting to current rates rather than waiting indefinitely for major declines. National surveys also show that more consumers now prefer buying over renting for the first time since 2023.
Congress has also passed a bipartisan bill called the 21st Century ROAD to Housing Act. This bill is aimed at increasing housing supply,streamlining permitting, and expanding financing options for buyers. If enacted, these measures could help address long-term affordability concerns in high-cost states such as California.
While there is slightly more inventory, buyer activity is strengthening despite higher borrowing costs. Buyers who have been waiting for the "perfect" rate environment may miss out on current opportunities.
