Real Estate and Home Mortgage Rates in California and Pasadena, California

This report tracks the most recent published trends in closed, active, and pending real estate transactions in California, then narrows in on Pasadena with a breakdown by single family homes, condos, and townhomes, and it closes with current home mortgage rates. Public data follows weekly and monthly release calendars rather than a 72 hour cycle, so every figure below is labeled with its exact reporting period and its source, and only numbers that could be re-verified on this run, Thursday, October 29, 2026, are published. Where the most recent published number differs from the live market at any moment, the page says so plainly.

California at a glance: closed, active, and pending

The California Association of Realtors (C.A.R.) released its September 2026 statewide report on Monday, October 19, 2026, and it remains the freshest state signal on this run, Thursday, October 29, 2026. September shows a market that pulled back on higher borrowing costs and affordability constraints: closed sales fell to a seasonally adjusted annualized rate of 260,410, down 3.4% from August and down 6.5% from September 2025, the 48th consecutive month below 300,000. The statewide median eased a touch to $899,720, up 1.7% from a year earlier and down 0.2% from August's $901,420, its fifth consecutive annual gain. Supply at 3.7 months stayed historically tight, unchanged from August and slightly above the 3.6 months recorded a year earlier, and active listings edged up 2.7% from August and 0.5% from a year earlier, the first annual increase in eight months, a gain C.A.R. tied to slower sales rather than a flood of new listings. On the pending side, C.A.R. reported that pending sales declined in September without publishing a numeric statewide pending index; Chief Economist Jordan Levine said the decline suggests California could see further softening in closed transactions in the coming months. C.A.R. also noted the average 30 year fixed mortgage rate in September ran at 6.86%, up from 6.67% in August. Southern California posted the steepest regional decline, down 9.1% from a year earlier. C.A.R.'s October 2026 report is expected around mid-November, so September, released October 19, remains the newest verified state number. C.A.R. followed its September report with its 2027 forecast on October 7, projecting California existing single family sales to climb to 277,900 units in 2027, up 3.7%.

C.A.R.'s own statewide weekly tracking remains the newest published October activity series: for the week ending October 10, 2026, pending sales averaged 411 per day, down 19.5% week over week, closed sales averaged 418 per day, down 25.3%, and new listings averaged 594 per day, down 9.2%. Searches on this run found no published C.A.R. weekly snapshot for the weeks ending October 17 or October 24, so the week ending October 10 is still the latest one with verifiable numbers. The National Association of Realtors' freshest pending signal, meanwhile, turned sharper: its September Pending Home Sales Index, released Tuesday, October 20, fell to 66.0, down 7.3% from August and down 11.3% year over year, the lowest since the series began in 2001.

Sources: C.A.R. September 2026 Home Sales and Price Report, the C.A.R. 2027 California Housing Market Forecast, the Mid Valley News summary of C.A.R.'s monthly and weekly tracking, the NAR September 2026 existing home sales report, the NAR September 2026 pending home sales report, the Census Bureau September 2026 new residential sales report, and the Mike Simonsen weekly national housing update, October 26, 2026.

National context. At the national level, NAR's existing home sales report for September 2026, released Tuesday, October 13, 2026, showed existing home sales at a seasonally adjusted annual rate of 3.99 million, up 1.5% from August and down 2.2% year over year. The national median existing home price was $417,500, up 1.3% from a year earlier, unsold inventory rose to 1.60 million units at the end of September, a 4.8 month supply at the current sales pace, and the median time on market was 33 days. NAR's September Pending Home Sales Index, released Tuesday, October 20, fell to 66.0, down 7.3% from August and down 11.3% year over year, the lowest reading since the index began in 2001, with all four regions declining, including a 9.2% drop in the West. The Census Bureau's September new home sales report, released Tuesday, October 27, put sales of new single family homes at a seasonally adjusted annual rate of 676,000, down 0.6% from the revised 680,000 in August and down 5.3% from a year earlier, with a median new home price of $400,400, up 3.9% from August but down 3.9% from a year earlier, and an estimated 476,000 new homes for sale at the end of September, an 8.4 month supply. The freshest national activity signal inside this run's window comes from Mike Simonsen's weekly housing update, published Monday, October 26, 2026, based on Altos Research listings data: national inventory rose by roughly 8,000 homes that week, a large increase for late October, with national pending sales running about 16 percent below a year earlier. No further scheduled national housing releases land before NAR's October existing home sales report, due in mid-November, and its October pending index on November 18. California, with its own 3.7 month supply, remains materially tighter than the national 4.8 month average.

Home mortgage rates this week

Rates eased in the past week and then held, and the Federal Reserve confirmed the expectation of a pause. Freddie Mac's newest confirmed survey, released Thursday, October 22, put the average 30 year fixed rate at 7.32 percent, down from 7.40 percent the prior week, with the 15 year fixed at 6.68 percent, down from 6.71 percent; its next edition was due this morning, Thursday, October 29, and could not be re-verified on this run, so the October 22 edition is the newest confirmed PMMS. The Mortgage Bankers Association's survey for the week ending October 23, released Wednesday, October 28, is new on this edition: the 30 year fixed contract rate eased to 7.37 percent from 7.41 percent, the seasonally adjusted purchase index rose to 134.1 from 129.2, up 4 percent week over week, the market composite index rose 3.4 percent, the refinance index rose 3 percent but stayed about 61 percent below a year earlier, ARM share rose to 11.3 percent, and unadjusted purchase demand remained about 18 percent below a year earlier. The 10 year Treasury, the mortgage market's main anchor, spent the week around 5.00 percent: it closed near 5.00 percent on Monday, October 26, near 4.99 percent on Tuesday, October 27, and near 5.01 to 5.02 percent on Wednesday, October 28, up about 3 basis points after the Fed's hold, with the 30 year near 5.35 percent and the 2 year near 4.70 percent; the level follows a pullback from about 5.37 percent in early October, its highest reading since 2002. The Federal Reserve concluded its two day meeting on Wednesday, October 28 and held the target range at 3.75 to 4.00 percent on a 10 to 2 vote, with Cleveland Fed President Beth Hammack and Governor Lisa Cook dissenting in favor of a quarter point hike; the statement said inflation remains elevated and that accumulating more information will help the committee determine the appropriate stance, and Chair Kevin Warsh said the central bank will hold fewer rate setting meetings starting in 2027. Markets had priced about a 90 percent probability of the hold, and the decision matched that expectation. California has no single official state rate benchmark; C.A.R. reported the average 30 year fixed rate in September at 6.86 percent, up from 6.67 percent in August, so think of the national average as the anchor and of quotes from local lenders as the real number to shop.

Sources: Freddie Mac Primary Mortgage Market Survey and its October 22, 2026 news release, the MBA survey for the week ending October 23, 2026 and the HousingWire summary of the same survey, the Federal Reserve October 28, 2026 rate decision, the CNBC report on the October Fed decision, the CNBC report on Treasury yields after the Fed, FRED's 10 year Treasury constant maturity series, Investing.com's 10 year Treasury history, and the C.A.R. September 2026 Home Sales and Price Report. California has no single official state rate benchmark; lender and portal quotes move daily, so the national average is the anchor and a local lender quote is the number to act on.

Pasadena, California: the market right now

Pasadena is the largest city in the San Gabriel Valley, and supply is historically constrained even as inventory through 2026 has given buyers more choice than in recent years. Prices eased on the newest citywide reading, and well priced homes still attract multiple offers. Here is the snapshot for this edition, refreshed on October 29, 2026, with each figure on its own dated line.

Closed transactions by property type

Public portals publish a clean closed split by property type only on their own schedules, and no Q3 or later 2026 Pasadena three way split could be re-verified from public sources on this run. The most recent verifiable breakdowns are the monthly market reports for April and May 2026, which split Pasadena closings into single family homes, condos, and townhomes. In April 2026, single family homes led with 53 sales at a median near $1,725,000, condos closed 23 sales at a median near $827,000, and townhomes closed 8 sales at a median near $885,000, for a citywide total of 90 recorded sales at a median near $1,217,500. In May 2026, single family homes again led with 53 sales at a median near $1,709,675, condos closed 31 sales at a median near $785,000, and townhomes closed 7 sales at a median near $910,000, for a citywide total of 103 recorded sales at a median near $1,360,000 (the May report also records 8 multi family sales at a median near $1,545,000). Sotheby's International Realty's Q2 2026 report, also CRMLS based, counts 795 closed sales across single family homes and condos, with roughly 698 homes in inventory and about 38 average days on market at a median near $1.53 million; its Q2 geography spans the Pasadena area, so the count is broader than the city limits.

The sources use different methodology, so their totals and splits differ slightly. A newer three way split, into single family, condo, and townhome with both closing counts and medians, for Q3 or October 2026 could not be re-verified from the public summaries on this run, so none is printed here. The freshest closed market signals remain the portal readings above: Redfin's $1,179,438 over the three months ending September 2026, Movoto's near $1.15 million reading for July 2026, and Resideline's 650 closings over six months at a near $1.15 million median, followed by the April and May 2026 by type splits. The by type detail for the current month lives in the MLS.

Sources: Pasadena Housing Market Report, April 2026, Pasadena Housing Market Report, May 2026, Sotheby's International Realty Q2 2026 Pasadena report, Redfin Pasadena housing market page, Resideline Pasadena housing market page, Redfin Pasadena pending listings page, Movoto Pasadena market trends, Altos Research October 9, 2026 Pasadena snapshot, and Zillow Pasadena home values.

Active and pending by type

Public sources still do not publish Pasadena active and pending counts split by single family, condo, and townhome in one consistent, dated snapshot, and this run found less by type visibility than usual because several portal tallies moved. Altos Research's October 9, 2026 snapshot counts 138 active single family homes at a median asking price near $1.89 million, 42 median days on market, and a median asking price per square foot near $900. Redfin's current city page, in a snapshot without a published date, lists 33 townhouses for sale among its filtered subsets, and its pending page lists about 119 pending listings at a median list price near $1.1 million. Movoto's latest panel counts about 479 total active listings citywide. The single family portion of active inventory is the highest value segment at well over a million dollars median asking, condos make up the largest share of attached inventory, and townhomes are the smallest slice of the three; the exact, by type numbers live in the MLS (CRMLS) and update constantly. Alejandro can pull a live, by type breakdown of Pasadena active and pending inventory for your exact search at any time, by text or through the form below.

What this means for buyers, sellers, and investors

Four honest takeaways from the figures re-verified on this run, October 29, 2026. First, California's September report, released October 19, remains the freshest statewide signal and it pulled back: closed sales ran at a seasonally adjusted annualized rate of 260,410, down 3.4% from August and down 6.5% from a year earlier, the 48th month in a row below 300,000, the statewide median eased to $899,720, supply at 3.7 months stayed historically tight, and active listings posted their first annual increase in eight months, up 0.5%; C.A.R. also reported that pending sales declined in September, its weekly tracking for the week ending October 10 remains the newest published snapshot with no newer weekly figures found on this run, its October report is expected around mid-November, and its October 7 forecast still sees a slow recovery, with 2027 sales projected at 277,900, up 3.7%. Second, the national picture stayed soft with the freshest window releases: NAR's September Pending Home Sales Index, released October 20, fell to 66.0, down 7.3% from August and down 11.3% year over year, the lowest since the series began in 2001, the Census Bureau's September new home sales report, released October 27, put new single family sales at 676,000 with a median price of $400,400 and 8.4 months of supply, and the October 26 weekly national reading showed inventory rising by about 8,000 homes with pending sales about 16 percent below a year earlier. Third, mortgage rates eased and then held, and the Fed confirmed the pause: Freddie Mac's newest confirmed PMMS, released October 22, put the 30 year fixed at 7.32 percent, down from 7.40 percent, with the 15 year at 6.68 percent, MBA's survey for the week ending October 23, released October 28, eased the 30 year contract rate to 7.37 percent from 7.41 percent with purchase applications up 4 percent for the week, and the 10 year Treasury closed near 4.99 percent October 27 and near 5.01 to 5.02 percent October 28; on Wednesday, October 28, the Federal Reserve held the target range at 3.75 to 4.00 percent on a 10 to 2 vote, matching the about 90 percent probability markets had priced. Fourth, Pasadena's newest citywide reading from Redfin, through the three months ending September 2026, shows a median near $1,179,438, down 3.7% year over year, with about 278 homes sold; Altos Research's October 9 snapshot shows 138 active single family homes at a $1.89 million median asking price, Movoto's latest panel counts about 479 homes for sale, Redfin's pending page lists about 119 pending homes at a near $1.1 million median list price, Zillow reads the typical home value at $1,206,740 on June data, and the by type detail that decides your offer, whether a single family, condo, or townhome, comes from the MLS, not a portal headline.