Home sellers are relisting at fastest pace in a decade.
The all-important spring housing market is off and running, and while the pace isn’t expected to be strong, there are signs of optimism, at least among sellers. Some who gave up last year are jumping back in.
Nearly 45,000 homes that were delisted last year were relisted for sale in January, according to Redfin. That is the highest January figure in a decade and represents a record 3.6 percent of homes that were on the market in January. The overall inventory of homes for sale nationally is higher than it was a year ago, but the gains are plateauing, according to Realtor.com. Active listings were up 7.9 percent in February, year over year, but that number has been shrinking for nine straight months. Listings are still down 17 percent from 2019, pre-pandemic.
Check out the statistics in the chart so see the numbers in our local counties.
California Housing Affordability Improves in Q4
Moderating home prices and cooling market competition lowered borrowing costs and allowed more Californians to qualify for mortgages and improve their chances of buying a home in the fourth quarter of 2025, according to C.A.R.’s latest affordability report.
Highlights of the report include:
- Eighteen percent of California households could afford to purchase the $869,300 median-priced home in the fourth quarter of 2025, up from 17 percent in third-quarter 2025 and up from 16 percent in fourth-quarter 2024.
- A minimum annual income of $213,200 was needed to make monthly payments of $5,330, including principal, interest, taxes, and insurance on a 30-year fixed-rate mortgage at a 6.35 percent interest rate.
- Twenty-eight percent of home buyers were able to purchase the $650,000 median-priced condominium or townhome. A minimum annual income of $159,200 was required to make a monthly payment of $3,980.
First-time home buyers are entering the market later, facing higher upfront costs, and navigating more complexity than previous generations. Yet the desire to own remains strong.
Rising housing costs, student loan debt, and misconceptions about affordability are reshaping when and how Californians buy their first home.
· There are higher barriers for first-time buyers, not lower demand. First-time buyers make up 21% of the market, a historic low compared to the long-term average of about 40%.
· Buyers are entering the market later. The median age of a first-time buyer is now 40, compared to late 20s in the 1980s.
· The desire to own remains strong. 78% of renters want to own, yet 57% say they rent because they believe they can’t afford to buy.
· Down payment myths delay action. Renters estimate a 25% down payment, while the typical first-time buyer puts down 10%. And 84% don’t know what they qualify for.
· Assistance programs exist, but awareness is low. State, federal and local options can reduce upfront costs, and REALTORS® play a key role in identifying eligible programs and helping buyers navigate the next steps.
Bipartisan bill passes House of Representatives
In a decisive show of bipartisan momentum, the U.S. House of Representatives passed the NAR-backed Housing for the 21st Century Act last week by a sweeping 390-9 vote-advancing one of the most significant federal efforts in years to boost housing supply and improve affordability. With House approval secured, the legislation now moves to the Senate for consideration.
Leading up to the House consideration of the bill, the National Association of Realtors issued a targeted call for action through its Federal Political Coordinator program urging members of Congress to support this legislation. The effort underscored the urgency of federal action as affordability challenges deepen nationwide.
Buying a home remains one of the greatest drivers of generational wealth and long-term financial stability. And our recent national survey shows that 85% of voters still believe homeownership is part of the American dream.
***As of early March 2026, the U.S. Senate has not passed the House version of the Housing for the 21st Century Act (H.R. 6644) as a stand-alone bill. Instead, in March 2026, the Senate began advancing the “21st Century ROAD to Housing Act,” which combines the House-passed bill with the Senate’s own “ROAD to Housing Act” into a consolidated package.
The heyday of the cash buyer may all but be over.
Fewer buyers are seeing cash as an appealing way to pay for a home as mortgage rates decline.
In December 2025, just 29 percent of buyers paid for homes in cash, which is the lowest share for any December since 2020, according to an analysis of the 38 most populous metros in the U.S. by Redfin. In December 2024, 30.3 percent of homebuyers paid in cash, but the share of all-cash buyers peaked in 2023 at almost 35 percent as mortgage rates also hit a high in the 7 percent range and buyers sought to avoid paying interest at those higher rates.
The number of cash buyers has also declined because real estate is currently seeing its strongest buyer market in a long time. Therefore, because sellers outnumber buyers, buyers don’t have to work so hard to win properties through the extreme tactics of the pandemic market, like offering to pay in cash or waiving inspections.
The lowest number of cash buyers transacted in Seattle, Washington (17.3 percent of buyers); Oakland, California (18.5 percent) and Sacramento, California (19.6 percent).
Down payments may be falling in part because Americans are seeking out more affordable homes due to soaring prices, elevated mortgage rates, and economic uncertainty. Sellers typically prefer buyers who make large down payments because it signals financial stability, but sellers don’t have much say in today’s market. Buyers hold the negotiating power because there are more homes for sale than people who want to buy them.
Some other areas you might want to know about…
Boulder Creek in Santa Cruz County is known for its towering redwood forests, gateway access to Big Basin Redwoods State Park, historic logging past, counter-culture vibe, and outdoor recreation like hiking and fishing, offering a relaxed mountain town experience with local shops and eateries. In 2026 the median price is averaging $758,750 for a single-family residence with 90 days on the market.
Hollister located in San Benito County is a growing agricultural city of approximately 41,000-44,000 residents, serving as the San Benito County seat. Known as the “Gateway to Pinnacles National Park,” it offers a quiet, small-town atmosphere with easy access to Monterey Bay and Silicon Valley. In 2026 the median price is averaging $822,000 for a single-family residence with 63 days on the market.
And finally, Campbell is a city in Santa Clara County. Campbell is home to the Pruneyard Shopping Center, a sprawling open-air retail complex which was involved in a famous Supreme Court case that established the extent of the right to free speech in California. In 2026 the median price is averaging $2,134,250 for a single-family residence with 18 days on the market.