Latest Real Estate News: November 6, 2026

This edition covers the market signals Paul is watching for Oregon and Idaho buyers and sellers: mortgage rates eased for a third straight week, September existing-home sales ticked up nationally, Oregon prices held near year-ago levels, and Treasure Valley median sale prices pushed higher against lean supply. Every figure below links to the organization that published it, and Paul's own monthly tables are live on the Market Meter and market data pages.

Mortgage rates: a third straight weekly decline

Freddie Mac's Primary Mortgage Market Survey put the average 30-year fixed-rate mortgage at 7.18% for the week of November 5, 2026, the third consecutive weekly decline. It averaged 7.24% the previous week and 6.22% a year earlier. The average 15-year fixed rate came in at 6.57%.

Direction matters more than any single week: three straight declines restore a little buying power each week, and they give sellers a steadier pool of qualified buyers to price against. Paul's standing advice in both states: get pre-approved first, so you can lock when the number works for you instead of chasing it.

Nationally: a measured September

The National Association of Realtors reported existing-home sales rose 1.5% in September from August, to a seasonally adjusted annual rate of 3.99 million, and were down 2.2% from a year earlier. The median existing-home sales price was $417,500, up 1.3% year over year, with unsold inventory at 1.60 million homes, a 4.8-month supply.

A 4.8-month supply is the closest the national market has been to balance in years, and that backdrop tends to show up locally as longer market times and more room to negotiate.

Oregon: prices steadied near year-ago levels

Across Oregon, Redfin put the statewide median sale price at $504,949 in September 2026, up 1.0% from a year earlier, with sales down 5.4%. Zillow's average home value estimate for the state was $504,432, down 0.5% year over year, with homes going pending in about 16 days.

In the Portland Metro, RMLS reported a September 2026 median sale price of $545,000, flat year over year, with months of supply at 4.2 in the September report, up from 3.8 in August. Translation for buyers: more homes to compare and more negotiating room than in recent years. Translation for sellers: pricing from current data matters more than the price you heard about in 2021.

The affordability backdrop remains the longer-term headline. Oregon Housing and Community Services' State of the State's Housing report documents an affordable-housing gap of roughly 128,000 units for extremely low- and very low-income households, and found that only about 29% of Oregon households could afford a typical home in 2023.

Treasure Valley: prices higher, supply still lean

Intermountain MLS (IMLS) data for September 2026 showed Ada County's median sale price at $575,000, up 2.9% year over year, with Canyon County near $400,000, up 1.8%. Closed sales ran 11.4% above a year earlier, and months of supply sat at about 2.5, still well below the 4 to 6 months that marks a balanced market.

The outlook has been consistent for a while. The Idaho Statesman reported in December 2025 that Realtor.com's forecast for the Boise metro called for sales up 3.4% and prices down 0.8% in 2026, with new construction making up roughly half of Boise-area listings. New construction is a large part of this market, so buyers comparing a resale against a new build should weigh timelines, base prices, and lot premiums side by side.

What it means for your move

• First-time buyers: rates are easing, but affordability is still the constraint. Get pre-approved at a rate you can lock today and be ready to act when the right home shows up.
• Sellers in Oregon: inventory is the story. Price from September's data, not from peak-season memories, and expect buyers to compare more homes before they commit.
• Treasure Valley buyers: a supply of about 2.5 months still favors prepared buyers who move first, and well-priced homes keep selling close to asking.
• Relocating and move-up buyers: the two-state plan keys on timing. Watch rate direction and line up the Oregon sale and the Idaho purchase on one calendar.
• Investors and new-construction buyers: with new builds roughly half of Boise-area listings, compare builder base prices, lot premiums, and construction timelines against resale values before you choose.

Figures are the latest published at the time of writing and can be revised by the organizations that issue them. Medians are point-in-time readings, not predictions for any single home or street. For the full local tables, see the Market Meter and the market data page.