The week ending April 10, 2026 reminded us just how quickly world events can move financial markets and the housing market. Early in the week, investors became more optimistic after a temporary ceasefire between the U.S. and Iran was announced. Stocks rallied, oil prices eased, and mortgage rates finally moved lower. By Friday, however, markets turned cautious again as inflation data came in hotter than expected and concerns grew that the ceasefire may not hold.
The stock market still finished the week with strong gains. The Dow Jones Industrial Average closed Friday at 47,916, down 269 points for the day, but up 3% for the week. The S&P 500 gained 3.6% and the Nasdaq jumped 4.7%, making it the best week of 2026 so far for stocks. Investors were encouraged by signs that the war in Iran may be slowing and that oil prices may stabilize.
Bond markets also improved. The 10-year Treasury yield, which heavily influences mortgage rates, moved down earlier in the week before ending near 4.31%–4.32% on Friday. That is still elevated, but below the highs reached during the peak of the Iran conflict in March.
Mortgage rates finally gave buyers some relief. The average 30-year fixed mortgage dropped to approximately 6.41%, down from a recent high near 6.73% just days earlier. The drop came because oil prices eased and fears of runaway inflation softened somewhat.
The war in Iran remains the biggest driver of the economy right now. The conflict and threats to the Strait of Hormuz sent oil prices soaring above $100 per barrel in March. This week, hopes for a ceasefire brought oil back down into the mid-$90 range, but prices remain much higher than they were before the conflict. Any renewed escalation could quickly push oil and gas prices higher again and create more inflation pressure.
Inflation remains stubborn. March consumer prices rose 0.9% in one month and are now up 3.3% from a year ago, largely because of the biggest increase in gas prices in decades. Higher inflation makes it less likely that the Federal Reserve will cut interest rates anytime soon.
The job market is still holding up surprisingly well. March added approximately 178,000 jobs nationally, which shows that employers are still hiring despite higher rates and economic uncertainty. A stronger job market is good for consumer confidence, but it also gives the Federal Reserve less reason to lower rates.
So what does all of this mean for home buyers and sellers in Westlake Village, Agoura Hills, Thousand Oaks, and Los Angeles?
For buyers, the recent drop in mortgage rates is welcome news. A lower rate can increase purchasing power and reduce monthly payments, especially in higher-priced markets like Westlake Village and Los Angeles. However, rates are still much higher than they were earlier this year, and continued uncertainty surrounding Iran and inflation means buyers should not wait too long hoping for dramatically lower rates. If rates fall further later this year, refinancing is always an option.
For sellers, inventory remains relatively limited in many parts of the Conejo Valley and Los Angeles County, which is helping support home prices. Buyers are still active, especially for homes that are priced correctly and show well. Luxury communities such as Lake Sherwood, North Ranch, and the high-end neighborhoods of Agoura Hills continue to attract affluent buyers who are less sensitive to rate changes. But in the broader market, higher mortgage rates are causing some buyers to be more cautious, which means overpricing a home can lead to longer days on market and price reductions.
In Westlake Village, Agoura Hills, and Thousand Oaks, I expect home prices to remain fairly stable through spring, with the best homes still receiving strong interest. In Los Angeles overall, the market is becoming more selective. Well-prepared homes in desirable neighborhoods will still sell, but buyers are negotiating harder and paying closer attention to value than they did a year ago.
The bottom line: the local housing market remains resilient, but we are no longer in a market where “anything sells.” Strategy, pricing, presentation, and timing matter more than ever.
If you are thinking about buying or selling in Westlake Village, Agoura Hills, Thousand Oaks, or Los Angeles, now is the time to make a plan before the next economic headline changes the market again. I would be happy to help you understand what these changing conditions mean for your home, your goals, and your next move.
Tina Lucarelli - Local & Global Real Estate Agent - The ONE Luxury Propeties, Inc. (310) 738-8089 - DRE 02102354
