Monday, October 5, 2026 / by Dick Keenan
Two numbers define the housing conversation this week. The 30-year fixed mortgage rate climbed to 7.28%, according to Freddie Mac, its highest level in nearly three years. And the September jobs report showed the US added just 29,000 jobs, with prior months revised down by 60,000 and unemployment rising from 4.1% to 4.2%.
Buyers and sellers on the Central Coast are asking how these fit together. Here is what the data says.
Why Rates Are Rising Despite Weak Jobs
A soft labor market usually eases rates. This time the Fed is the bigger driver. It raised the federal funds rate by 25 basis points on September 16, its first hike in three years. Since then, Fed Governor Michael Barr, New York Fed President John Williams and Philadelphia Fed President Anna Paulson have all signaled that another hike may be appropriate. Markets now price in higher odds of an increase at the October 27-28 meeting. The final meeting of the year is December 8-9.
One clarification matters for buyers. ...
Read More
Wednesday, September 16, 2026 / by Dick Keenan
The Central Coast market is moving into fall with a mix of economic signals worth paying attention to. Here's what you need to know this week.
The Fed Is Back in Focus
The big story this week is the Federal Reserve. Its two-day meeting started Tuesday, with the policy announcement and press conference scheduled for Wednesday afternoon. Markets are watching closely: inflation came in hot for August, with the headline Consumer Price Index rising 0.4% month-over-month, driven largely by energy and gas costs. That data keeps a rate hike on the table heading into the meeting.
At the same time, unemployment claims remain relatively low, holding around 206,000 initial filings — but economists note those numbers may undercount workers shifting to gig or freelance roles rather than filing for benefits.
For buyers and sellers on the Central Coast, the message is the same as it's been: uncertainty around rates is real, but waiting for clarity carries its own cost.
Existing Home S ...
Read More
Wednesday, September 16, 2026 / by Dick Keenan
The Central Coast market is moving into fall with a mix of economic signals worth paying attention to. Here's what you need to know this week.The Fed Is Back in FocusThe big story this week is the Federal Reserve. Its two-day meeting started Tuesday, with the policy announcement and press conference scheduled for Wednesday afternoon. Markets are watching closely: inflation came in hot for August, with the headline Consumer Price Index rising 0.4% month-over-month, driven largely by energy and gas costs. That data keeps a rate hike on the table heading into the meeting.At the same time, unemployment claims remain relatively low, holding around 206,000 initial filings — but economists note those numbers may undercount workers shifting to gig or freelance roles rather than filing for benefits.For buyers and sellers on the Central Coast, the message is the same as it's been: uncertainty around rates is real, but waiting for clarity carries its own cost.Existing Home Sales Are Sliding Natios ...
Read More
Monday, August 31, 2026 / by Dick Keenan
SLO County Values Are Holding
The average home value in San Luis Obispo County sits at approximately $906,846, up 1.5% year-over-year as of July 31, 2026. In the city of San Luis Obispo specifically, values have climbed to roughly $1.1 million. These are not dramatic leaps — steady, quiet appreciation in a supply-constrained market.
Homes are moving to pending in around 20 days countywide. Well-priced, well-presented properties are still generating attention. The homes sitting longer tend to share a common thread: overpricing at launch or condition that buyers are unwilling to absorb at current rates.
Price per square foot across SLO County has continued its upward trend, with recent data showing gains near $545 per square foot, up roughly 1.7% from this time last year. Sellers who entered 2026 with realistic expectations have largely found a willing market.
Mortgage Rates: Stuck in the Mid-6s
The 30-year fixed rate closed out August at 6.55%, up 18 basis points from the ...
Read More
Thursday, August 27, 2026 / by Dick Keenan
If you've been watching the Central Coast market from the sidelines, the conditions right now are worth a second look.
Rates Are Quietly Easing
As of this morning, the average 30-year fixed mortgage rate sits at 6.51% APR — down slightly from last week. It's not a dramatic drop, but the trend matters. Rates briefly moved lower after the U.S.-Iran ceasefire in June, then ticked back up when that agreement appeared to stall in July. The result: buyers who locked in late summer are finding a market that's more competitive than it was in spring, but not the frenzy of prior years. NerdWalletFortune
What's Happening Locally
The Central Coast — particularly the Santa Maria–Santa Barbara metro — is showing a median listing price around $1,827,000, up less than 1% year over year. Homes are spending about 83 days on market, up nearly 13% from last year, and roughly 18% of listings have seen a price reduction. Wedgewood Homes
That last number is worth noting. It doe ...
Read More
