Published November 1, 2026 in Market Update

Luxury buyers are still moving, even with 7.24% rates

By Lisa Marie Sanders

Real estate, Luxury

You are watching rates and wondering if buyers have pulled back. Here is what the data actually says. Freddie Mac put the 30-year fixed rate at 7.24% on October 29, 2026. Even so, the Real Estate Data Aggregator counted 1,345 homes sold across Luxury in the three months ending August 31, 2026. That is up 2.1% from a year before. Demand held.

Rates shape who moves and how they shop. CNBC reported that ARM applications hit 11.3% of all mortgage applications, the highest share in more than a year. Buyers are finding ways around a 7.24% fixed payment. That is worth knowing if you are pricing a home right now.

More sellers listed. Fewer homes sat on the shelf. That gap tells you buyers absorbed new supply without a buildup. The pipeline stayed healthy.

Speed and price: how each ZIP code read

The story changes by neighborhood. ZIP 77059 in Houston moved fastest. The Real Estate Data Aggregator found a median of 24 days on market there, 12 days shorter than a year before. Nearly half of homes, 45.6%, went under contract within two weeks of listing. The median sale price rose 6.5% to $436,750.

ZIP 77062, also in Houston, was close behind. Median days on market: 22. That is 6 days shorter than a year before. The Real Estate Data Aggregator put the median sale price at $325,000, up 8.3%.

Friendswood, ZIP 77546, told a more mixed story. More homes sold, up 17.6%, and they sold faster, 32 days. But the median sale price dipped 14.2% to $446,000. More supply came to market there, up 14.6% in new listings, and buyers had more to choose from.

Kemah, ZIP 77565, took the longest at 91 days. That is still 29 days shorter than a year before. Pending sales there jumped 55.9%. Buyers are arriving, just more carefully.

Bacliff, ZIP 77518, is the one to watch with caution. Median days on market rose 31 days to 63. Months of supply climbed to 8.4. Only 15 homes sold, down 40%. The median price rose 26.8% to $260,000, but with so few sales that figure can move sharply on a handful of deals.

What sellers got at closing

Most ZIP codes closed near list price. That is a sign of realistic pricing, not a soft market.

ZIP 77059 led on above-list sales at 18%, up 10.6 points from a year before. That is a real shift. Buyers there competed. ZIP 77586 in Seabrook dropped to 3.9% above-list, down 9.2 points. Not every ZIP moved the same direction.

The wider picture

The Federal Housing Finance Agency reported U.S. house prices rose 2.4% from August 2025 to August 2026. Realtor.com noted that 20.8% of listings nationally took a price cut in September 2026, the highest share since October 2022. Locally, the picture was steadier. Most ZIP codes here held close to list price.

CNBC reported that mortgage purchase applications rose 4% for the week ending October 28, 2026, even with rates at 7.37% on conforming loans. Buyers are still showing up. They are just doing the math more carefully before they do.