The house channels mid-century modern style with numerous quirks, including a glass window backsplash in the kitchen and a floating office
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An architecturally impressive abode in Palm Springs, California, that combines mid-century style with Old Hollywood glamour has hit the market for $7.69 million.
Despite appearances, the desert getaway was actually built in 2012, by Sean Lockyer of Studio AR&D. This marks the first time the home has been on the market since its creation.
“The goal with this project was to blend modern elegance and iconic mid-century architectural techniques,” Lockyer said.
By implementing “classic mid-century nods like floor-to-ceiling expanses of glass, aggregate block construction and a cantilevered steel roofline, the residence is unable to be dated and could easily be misjudged in age,” he added.
The heart of the 7,000-square-foot home is its glass-encased great room, complete with a recessed living area and a double-sided fireplace that extends through the glass walls and to the adjacent covered outdoor living space, according to the listing with Todd Monaghan and Keith Markovitz of TTK Represents of Compass, who brought the home to the market earlier this month.
The owners, who couldn’t be reached for comment, paid $700,000 for the underlying property in 2009, records with PropertyShark show.
The single-story house also boasts an office that appears to hover over the ground, a media room, a wine room and an open kitchen that swaps the traditional backsplash with glass.
There are four bedrooms, including a primary suite that occupies an entire wing of the house, and the pool sits in the centre of the home, visible from nearly all angels.
The interior design, meanwhile, takes inspiration from Hollywood Regency decor.
The property is “among the best homes I have experienced in Palm Springs,” said Markovitz.
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The US housing market remains under pressure as high mortgage rates continue to weigh on affordability and demand. Industry leaders say 2026 has been one of the toughest years for home sales, with slower price growth, weaker mortgage activity, and fewer buyers entering the market. However, experts say reduced competition and more price cuts could create opportunities for well-prepared buyers.
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The typically busy spring season for the housing market was a dud, and the summer isn’t looking much brighter.
Housing services companies like Zillow Group and Rocket RKT +3.78% were loud and clear last week on earnings calls: Rocket CEO Varun Krishna called the quarter through June “one of the toughest spring housing markets in years.”
Jeremy Hofmann, Zillow’s chief financial officer, said on a conference call that the company predicted earlier this year that the market for mortgages would be flat. “We actually now think it’s going to be down low-to-mid-single digits,” he said.
The rest of 2026 will remain challenging for mortgage origination volume, says KBW analyst Bose George. The question now is what happens in 2027. “If mortgage rates remain [around] 6.75%, I think that’s going to be challenging even for next year,” he says.
But what’s bad news for mortgage companies could be a positive for bargain hunters. Buyers can expect prices to grow more slowly—or mildly decline—with less competition as long as mortgage rates remain unpredictable.
Mortgage rates at the beginning of the year were solidly below year-ago levels, notes Zillow senior economist Kara Ng. But they surpassed last year’s levels recently, she adds, referencing Freddie Mac’s weekly survey of 30-year fixed mortgage rates. Last week’s reading, at 6.69%, was higher than year-ago levels for the first time in 2026.
“From the affordability point of view, it’s going to get more challenging in the second half of the year,” she says. “And when affordability gets more challenging, that impacts sales and home price appreciation.”
Mortgage application data tracked by the Mortgage Bankers Association has cooled since the beginning of the year. The trade group expects that the number of mortgage originations in the remaining two quarters will lag behind last year’s levels, after exceeding 2025 levels in the first half.
Rocket’s early-stage data—which the company told Barron’s it derives from its brokerage Redfin, demand for its mortgage products, and signs in its servicing portfolio that a homeowner is preparing to refinance or move—“leads us to expect the third quarter mortgage market to be smaller than the second,” Chief Financial Officer Brian Brown, said on the company’s call. He added that such an occurrence is “something the industry has not seen since 2022.”
Prices will be about flat nationally, Ng says. Zillow’s most recent forecast, which shows how values are expected to change in the year ending June 2027, show them dropping in roughly half of the 100 largest U.S. metros for which data is available.
Buyers aren’t rushing in at a time when mortgage costs are rising and unpredictable. But those with the right combination of patience and cash could stand to benefit. “If you are financially qualified to buy a starter home, you are facing less competition and you’re more likely to get a price cut,” Ng says.
