Author: Shaline Heng

Southern California’s housing market continues to show remarkable resilience—even as 30-year mortgage rates climbed into the low-7% range by October 1, up from the mid-6% range just weeks prior. Despite these higher rates shaping financing strategies, single-family home prices in our region have held steady. Condos, however, have faced more challenges, with less price stability as rising insurance costs, increased reserve requirements, and mandatory balcony repairs have driven HOA fees—and, in some cases, special assessments—higher. These additional ownership expenses have weighed on buyers’ purchasing power, making it especially important to approach condo pricing and negotiations with care and realism.

In this environment, I always encourage clients to look beyond national headlines and focus on what truly matters: your personal goals, neighborhood trends, and the specific inventory you’re considering. My background in business finance and experience in both local and overseas real estate development allow me to approach every transaction with a strategic, well-rounded perspective. Helping families find the right path to homeownership and build generational wealth remains my driving motivation.

Here’s a quick update on Covina’s housing market. Most homes are selling at similar prices as last year. Fewer homes are changing hands, and properties are taking a bit longer to sell.

Every month, I love reviewing the most remarkable properties on the Alhambra market—and September 2026 certainly sets the bar high. From a breathtaking $10,750,000 estate (Listing 26864059) to elegant homes in the $1.3M–$6M range, these listings showcase the diversity and investment potential our community offers. My background in business finance and real estate development always leads me to look beyond the price tag: each of these homes represents not just a place to live, but an opportunity to build a foundation for generational wealth. Whether you’re dreaming about your next move or simply tracking the pulse of Alhambra, I believe everyone deserves access to homes—and futures—that inspire.

Navigating today’s shifting real estate landscape requires both flexibility and strategy. By late Q3, 1 in 5 property listings underwent a price cut, while less than 6% were delisted—signaling that many sellers chose to stay the course and adapt their expectations rather than step away. Mortgage rates told their own story, with the conforming 30-year fixed moving from the high-6% range early in the month to over 7% by mid-month, then climbing even higher. Inventory grew to over 1.16 million active homes, and the median listing price adjusted down about 1% month-over-month to $419,300, giving buyers a little more negotiating power. Still, new listings slipped by around 2% to 395,000, as economists noted that elevated borrowing costs tempered buyers’ ability to fully capitalize. As we moved into early Q4, many were watching to see if these tougher conditions would lead to deeper discounts, more frequent price reductions, and longer selling times. My background in business finance and years supporting families through all stages of buying and selling help me see not just the numbers, but the opportunities they represent for building wealth and finding the right fit in any market.

We're still seeing mortgage rates holding close to 7%, which continues to challenge affordability for many families. With inflation proving stubborn and the possibility of another Fed rate hike, borrowing costs may even creep higher. Wider mortgage-backed securities spreads are only adding to the pressure. A significant drop in rates will require real, sustained progress on inflation, steadier long-term yields, encouraging signals from the Fed, and healthier mortgage-backed securities markets. For now, whether you’re considering buying, investing, or refinancing, it’s wise to plan around current rates and treat any future rate relief as a welcome bonus. My background in business finance and global real estate development gives me a strategic perspective on these shifts—I’m always looking for ways families can navigate today’s market and build lasting wealth through real estate.

Indigenous Peoples’ Day celebrates, recognizes, and honors the beautiful traditions and cultures of the Indigenous People
We take a stand for and support the indigenous people on this day.
We should also offer our support to those who invest and uplift the indigenous communities.