Housing Market Flatlines at $900,000 Median as Affordable Units Break Ground and Border Cleanup Funds Open
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San Diego's housing market has essentially stopped moving. The median sales price for single-family detached homes held at exactly $1,099,500 in May 2026, consistent with March and April. The countywide median across all property types held at $900,000 — a figure that has been essentially flat for twelve consecutive months. Karen Van Ness, president of the Greater San Diego Association of Realtors, attributed the standstill to higher interest rates combined with economic and global uncertainty giving both buyers and sellers 'cause to pause.' The 30-year fixed mortgage rate is currently sitting in the low-to-mid 6% range.
Inventory is not providing relief. Active listings are down approximately 12.4% year-over-year countywide, and closed sales in May dropped 1.9% for detached homes compared to last year. Many existing homeowners locked into low fixed-rate mortgages from 2020 and 2021 have limited financial incentive to sell, compounding the structural standoff.
Against that backdrop, Mayor Todd Gloria joined Community HousingWorks and county officials on June 16 to break ground on Navajo Family Apartments at 7005 Navajo Road in San Carlos. The $32 million development will deliver 44 units — one-, two-, and three-bedroom apartments for households earning 30 to 70 percent of Area Median Income, roughly $52,450 to $122,450 annually for a family of four. Eight units are specifically reserved for adults with intellectual or developmental disabilities. Move-ins are expected by spring 2027. The county contributed $3.4 million from its Innovative Housing Trust Fund.
On the environmental-economic front, Governor Newsom announced that the State Water Resources Control Board has opened a competitive $46 million grant program funded by Proposition 4, the 2024 voter-approved climate bond, targeting contamination in the Tijuana River and other cross-border waterways. Individual awards can reach up to $10 million for implementation projects or up to $750,000 for planning work. The Voice of San Diego noted this is an application process, not a direct allocation — San Diego-area entities will need to compete for the funds. The Tijuana River Valley has faced years of raw sewage, industrial runoff, and cross-border pollution that has repeatedly closed South Bay beaches and created public health hazards. The California Coastal Commission also recently approved a separate project to cut harmful gas emissions near the Saturn Boulevard crossing.