Published October 28, 2026 in Market Update

Mortgage rates are high, but contracts are still moving in the Primary market

Freddie Mac put the 30-year fixed rate at 7.32% on October 22, 2026. That is a real cost. But buyers have not stopped. The Real Estate Data Aggregator counted 1,052 pending sales across the Primary market in the three months ending August 31, 2026. That is up 1.2% from the same months of 2025. Demand is still there. Sellers can see that. Buyers are just watching price more closely.

More sellers came to market. The Real Estate Data Aggregator counted 1,228 new listings across the Primary market in those three months, up 12.6% from a year before. More choice for buyers is a fair trade-off. But inventory still fell slightly overall, with homes for sale down 2.5% to 972. Supply is not piling up.

How each ZIP code looked

The story is not the same in every neighborhood. Here is what the Real Estate Data Aggregator counted for each ZIP code in the three months ending August 31, 2026.

Laguna Niguel (92677) led the market with 204 pending sales, up 6.8%. Aliso Viejo (92656) saw the biggest jump, up 12.6% to 116 pending sales. Trabuco Canyon (92679) was the softest spot, with pending sales down 21.3% to 107. Not every ZIP moved the same way.

Prices: some up, some dipped a little

Laguna Hills (92653) had the biggest price gain, up 15% to $1,475,000, per the Real Estate Data Aggregator. Lake Forest (92630) rose 12.1% to $1,300,000. A few ZIPs dipped a little. Rancho Santa Margarita (92688) fell 7.1% to $842,500. Laguna Niguel (92677) slipped 1.9% to $1,422,500. Mission Viejo (92692) was nearly flat, down 0.9% to $1,090,000. Price moves varied a lot by street.

How fast homes are moving

Laguna Hills (92653) was the fastest ZIP at 32 days, and that was 23 days shorter than a year before. Trabuco Canyon (92679) took the longest at 52 days, though that was still 9 days shorter than a year before. Every ZIP in the market moved faster or held steady compared with 2025.

Buyers writing offers above list price

Even at 7.32%, some buyers are still competing. The Real Estate Data Aggregator found that 36.8% of homes in Rancho Santa Margarita (92688) sold above list price in those three months, up 13.6 points from 2025. In Mission Viejo (92691), 35% sold above list, up 7.9 points. The national picture is calmer: the National Association of Realtors reported existing-home prices up just 1.3% in September 2026. Local competition here has been stronger.

Homes going under contract fast

The Real Estate Data Aggregator tracked how many homes went under contract within two weeks of listing. In Rancho Santa Margarita (92688), that share was 37.6%, up 15.2 points from a year before. In Laguna Niguel (92677), it was 34.3%, up 12.3 points. Even Lake Forest (92630), which had the lowest share at 24.2%, still edged up 0.6 points. Buyers at 7.32% are still moving when the right home appears.

The wider picture

Nationally, the National Association of Realtors reported existing-home sales reached 3.99 million units in September 2026. National inventory rose to 1.60 million homes. Realtor.com put the average mortgage rate at 7.40% on October 22, 2026. The Primary market's pending sales rose even against that backdrop. Buyers here are adjusting, not disappearing.

One street can read very differently from the whole ZIP code. The numbers above show the broad picture. Your specific block may be faster, slower, higher or lower. If you want to know where your home sits, I am happy to look.