Is It Actually a Good Time to Buy a Home Right Now?

Key Takeaways
Yes, with caveats: national list prices fell 2.4% year-over-year in May 2026 while pending sales rose for a
sixth straight month, meaning sellers are pricing realistically and buyers have more negotiating room
(Realtor.com). Locally, Corona and Riverside County prices are holding roughly flat, not spiking — a rare
window of stability worth taking seriously.

Every buyer I talk to in Corona asks some version of the same question, usually while wincing: “Are we
crazy to buy right now?” Fair question. Let’s actually look at the data instead of vibes.

What’s Happening Nationally
The most telling signal right now isn’t the price of homes — it’s the direction they’re moving and how
buyers are responding. In May 2026, national list prices fell 2.4% year-over-year, the steepest drop in
Realtor.com’s tracked data since 2017 (Realtor.com). At the same time, pending home sales rose for a
sixth consecutive month, up 4.3% year-over-year, and new listings hit their highest May level since 2022,
up 2.1% year-over-year (Realtor.com).

Read those two facts together and you get a clear story: sellers are finally pricing realistically instead of
chasing 2021-era fantasies, and buyers are responding by actually transacting. That’s a healthier market
than the standoffs we’ve seen in recent years, where sellers wouldn’t budge and buyers wouldn’t bite.

What’s Happening in Corona and Riverside County
Locally, the picture is calmer than the national headlines suggest. Corona’s median sale price sits at
$799,522, up just 0.3% year-over-year through May 2026 — essentially flat (Redfin). Riverside County
overall posted a median of $635,000 in June 2026, unchanged year-over-year and actually down 0.8%
from May (NBC Palm Springs / CAR).

Compare that to the statewide California median of $904,640 in June 2026, which was up 0.4% year-
over-year but down 2.8% from May (NBC Palm Springs / CAR). Corona and Riverside County are running
below the statewide pace of appreciation — which, if you’re a buyer rather than a seller, is genuinely
good news. You’re not chasing a market that’s sprinting away from you.

The Orange County Wrinkle
If you’re considering Orange County instead, the math changes. OC’s median sale price is around $1.3
million, up 4.7% year-over-year for the three months ending May 2026 (Marterra/Redfin). But here’s the
part almost nobody mentions: prices actually dipped in 36% of Orange County zip codes even as the
county-wide median hit records (OC Register). A county median is an average of very different
neighborhood stories — some zips are cooling while headline numbers stay hot. If OC is on your list, ask
about your specific zip code, not the county average.

Rates Are a Factor, But Not a Dealbreaker
Mortgage rates are sitting in the mid-6% range as of late July 2026 — Freddie Mac’s weekly survey
showed 6.43% for the week of July 2, 2026 (Freddie Mac). That’s not the sub-4% rates some buyers are
still nostalgic for, but it’s also not the 7.5–8% environment that made affordability brutal in recent years.

The Federal Reserve held rates steady at 3.50%-3.75% on July 29, 2026, for a fifth straight meeting, with
the statement citing elevated inflation and geopolitical uncertainty (Federal Reserve). Waiting for a
dramatic rate drop isn’t a strategy the Fed itself is signaling — three of twelve voting members actually
wanted rates higher, not lower (CNBC).

My Honest Read as a Corona Agent
I’m not going to tell you every buyer should jump in tomorrow — that’s not honest, and it’s not my job.
But the ingredients for a reasonable buying window are here: prices locally are stable rather than
spiking, sellers nationally are getting realistic, inventory is up, and rates — while not cheap — are
predictable enough to plan around. If you’re financially ready and planning to stay put for several years,
this is a far more balanced market than the frantic bidding wars of 2021 or the rate-shock paralysis of
2023.
Questions to Ask Yourself Before You Buy

• Can you comfortably afford the payment at today’s rates, not a hoped-for future rate?
• Are you planning to stay in the home at least 5 years, giving the market time to work in your
  favor?
• Have you checked your specific target zip code’s trend, not just the county median?
  FAQ
  Q: Are home prices falling in 2026?
  A: Nationally, list prices fell 2.4% year-over-year in May 2026 — the steepest drop since 2017 — while
  pending sales rose for a sixth straight month (Realtor.com). Locally in Corona and Riverside County,
  prices are roughly flat rather than falling.
  Q: Is Corona, CA a buyer’s market or seller’s market right now?
  A: It’s balanced-to-favorable for buyers. Corona’s median price is up just 0.3% year-over-year (Redfin),
  and Riverside County is flat year-over-year and down slightly from May (NBC Palm Springs / CAR) —
  much calmer than the statewide pace.
  Q: Should I wait for mortgage rates to drop before buying?

A: The Fed just held rates steady for a fifth straight meeting with no clear cut signaled, and three
members wanted to raise rates further (Federal Reserve). Waiting indefinitely carries its own risk —
buying what you can afford today, with refinancing as a future option, is often more realistic.
Q: Is Orange County still a good place to buy in 2026?
A: It depends heavily on the zip code. While the county median is up 4.7% year-over-year, prices actually
dipped in 36% of OC zip codes (OC Register), so check neighborhood-level data before assuming the
median applies to you.
Q: What’s the biggest sign the market is shifting toward buyers?
A: Rising inventory. New listings hit their highest May level since 2022, up 2.1% year-over-year, giving
buyers more options and more negotiating leverage than in recent tight-inventory years (Realtor.com).

Wondering whether now is the right time for YOUR specific situation? Call Diana Renee at (714) 287-
0669 for a no-pressure market conversation tailored to your budget and timeline. DRE #01150595 |
dianareneehomes.com &

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