Pending home sales remained unchanged in September as modest regional gains offset declines elsewhere, reflecting the continued impact of affordability pressures on the national housing market, according to the National Association of REALTORS®.
Mixed results across regions
Nationwide, contract signings fell 0.9% compared with September 2024, showing no month-over-month growth. Activity rose 3.1% in the Northeast and 1.1% in the South but declined in both the Midwest and the West, where affordability challenges remain most acute.
For buyers and sellers in the San Gabriel Valley—including El Monte, Baldwin Park, and Rosemead—the trend underscores a cautious fall market. Local agents say steady demand exists, but high borrowing costs and limited inventory continue to constrain movement.
“Interest has picked up slightly as rates eased this month, but many first-time buyers are still priced out,” said a Temple City real estate agent. “The market isn’t cooling—it’s just stalled.”
Affordability pressures linger
Although September’s pending sales pace ranked among the stronger months of 2025, it still fell short of what economists consider healthy for long-term growth. The National Association of REALTORS® noted that while mortgage rates have edged lower, home prices and insurance costs remain elevated.
That dynamic is especially visible in Southern California, where entry-level homes routinely draw multiple offers. In South El Monte and Irwindale, agents report that buyers are increasingly relying on down payment assistance programs or exploring smaller properties to offset affordability constraints.
Local outlook remains cautious
With open-escrow sales showing no significant change in September, analysts expect any increase in closed transactions through the end of the year to be modest. Baldwin Park and Arcadia real estate professionals anticipate a stable but competitive winter season, driven by limited new listings and cautious buyers.
“Most sellers understand that pricing realistically is key right now,” said an Arcadia broker. “Homes that are well-priced and well-presented still move quickly.”
As mortgage rates continue to fluctuate, both buyers and sellers in the San Gabriel Valley are watching closely for signs of broader market improvement. Economists suggest that a more sustained recovery in sales will depend on easing inflation and stronger labor market conditions heading into 2026.
For full national housing data, visit the National Association of REALTORS®.
