April 13, 2026—9-10----51-70

(((From the Blackburn Studios in Downtown Sioux Falls—Become a Blackburn PROTECTED HOME.

 

(((MUSIC—THIS OLE HOUSE)))

((((((Yee Hah----I’m Bill Zortman and welcome to the Remodelers Show—the 2nd Monday in a row that we do our real estate Report Card and then this week the Remodelers Show. Something we have done for more than a decade)))

 

  One of the guests who has been part of the show for virtually every one of them ---is Tony Bachman----long time real estate agent—and a well-respected broker in his own right---

   So on this April 13th—Tony is back with us ---Teddi Mueller—Home Builders Association Executive—Dave and Kelly Kelly—Fairway Mortgage plus one---Todd Boots---Steve Swenson—Handyman---Joe Hanson---Jerry Berg----Jannelle Cain---who works with buyers and sellers---

   Tony help set the stage with us on these ingredients

The "Headline" Numbers (March 2026 vs. March 2025)

Median Sales Price is Up: The median sales price for the region rose 3.2% year-over-year, moving from $315,000 to $325,000.Numbers look like a massive Spike in Pending Sales: Pending sales (homes under contract) saw a staggering 128.7% increase, jumping from 348 last March to 796 this year. Note changes in how we report pending sales has changed which makes this number look like it does.Inventory is Shrinking Fast: The number of homes available for sale dropped 29.3%, with only 1,355 homes on the market compared to 1,916 at this time last year.Months Supply of Inventory: The market has tightened significantly. We currently have a 3.2-month supply, a 38.5% decrease from the 5.2-month supply we saw in March 2025.

Market Speed & Sector Trends

Homes are Taking Longer to Sell: Despite high demand, the average Days on Market increased 10.6% to 104 days.The "Sweet Spot" for Activity:Fastest Sellers: Homes in the $200,000 to $250,000 range are moving the quickest, averaging about 80 days.Slowest Sellers: Luxury homes priced at $2 million and above are taking significantly longer, averaging 233 days.Surprise in the Luxury Market: The price range with the largest gain in sales over the last 12 months was the $1.5 million to $2 million bracket, which saw a 58.3% increase.New Construction vs. Previously Owned:New construction homes are fetching a higher median price of $376,650.The inventory of Previously Owned homes saw a much steeper decline (-36.9%) than New Construction (-9.7%).

Critical Insights for Buyers and Sellers

Negotiation Room: Sellers are receiving an average of 96.8% of their original list price, which is a slight 0.5% dip from last year. This suggests buyers have a tiny bit more room to negotiate than they did a year ago.Affordability is Holding Steady (but tight): The Housing Affordability Index dropped slightly (-0.8%), meaning the median household income is 121% of what is necessary to qualify for a median-priced home.National Context: Locally, our sales activity is reflecting a national trend where lower mortgage rates have helped boost buyer activity across the Midwest, South, and West.

If you are a seller, the inventory shortage is in your favor—there are nearly 30% fewer competitors on the market than last year. If you are a buyer, be prepared for a faster-moving market in the mid-range price points, as the months' supply of inventory has plummeted.

 Neil King—Sioux Falls expert and counter on all that is sold---

 Teddi Mueller---Home Builders Association

  

  ----------where are we---what are we seeing----and now that we are in the springy season---where do we go from here----

 

9:18/00—KELO Commercials

9:20/00---Remodelers Show 2

-----welcome back to the Remodelers Show---as we do on the first Monday’s of the month—we check the numbers on buying and selling homes---in the report card show---the 2nd Tuesday becomes the remodelers shows which gives us diversity in where we are and where we are going---- 

----------Lets go back to those guests—in the business

  Tony Bachman---longest member from the show—puts together the notes he is seeing—and lets continue with a few of those

   Neil King---does the counting----for the County---and what are you seeing for the first 3 months—and now 2 weeks into April---

   Teddi Mueller—with the Home Builders Association gets us the insight on what she sees—hears—and works with her members on---

------------Teddi----------------

   From these figures—and experiences---it gives us a chance to look ahead---for the rest of April----and thru May and June---in the first half of 2026----

------------Teddi----------------

   Upcoming events---projects the Home Builders are working on—and what else we should know---

-------------Teddi---------------

   When we come back—we’ll get the Bankers Update in our Remodelers Sow for April 2026---

9:29/00—KELO Commercials

9:30/00---fox biz News

9:32/30---Remodelers Show 3

   This side of our Remodelers Show gives us Dave and his wife Kelly Kelly---they see the numbers—and let us know what else is in the works—

 

   Dave you are in Minnesota—and your wife Kelly is in North Dakota---

--------one thing you shared with us –is that you wanted to share the Arrive Home Program---offered in 49 of the 50 states and is new –down payment program in conjunction with an FHA 1st Mortgage ---

  ------- it is  similar to SDH PLUS but no income limits----

----I think many first time homebuyers struggle to come up with down payments in conjunction with an FHA 1st Mortgage---

    Lets also talk about the f1rst time  homebuyers struggle to come up with a down payment but are not aware of the additional costs of purchasing a home 

   Buyers spent an average of $31,502 on home-buying expenses—beyond their down payment—quadruple the $8,083 they expected to pay for these costs.

   Home-buying costs/renovation costs, concession costs, first-time vs Repeat Buyer Costs—most surprising costs/homeownership’s impact on finances—home buying regrets, alternate approach 

   Buying a home isn’t just expensive—it’s also a serious financial commitment that extends well beyond the formidably high purchase price although home buyers often view the down payment as he most daunting expense, it is only one of many upfront charges involved in the purchase.

    In addition to their down payment, buyers spent an average of $31,502 on upfront home buying expenses, according to a new survey of 1,000 recent home buyers from Best Interest Financial and Clever Real Estate

   Many home shoppers start the process feeling financially prepared with 64% saying they initially felt fully informed about the total cost of buying, BUT 81% were still surprised by at least one home-buying expense beyond the sale price.

   Without a full understanding of the costs, the average buyer spent about 4x more than expected on upfront home-buying costs.

   Americans who are already struggling with the rising cost of living have little capacity to absorb large unplanned housing costs, and 75% of respondents say the cost of buying a home significantly impacted their finances in the first year of owning it.

    Had they know the true cost o buying a home—73% would have made different decisions. With a different approach ,buyers think they could have saved an average of $38,082 on their purchase

    We’ll talk about the true cost of purchasing a home and how buyers would have approached the processed  if they had better informed.

 

   We’ll look at more numbers and talk with others who work with is in our Report Card and Remodelers show-next

9:45/00—KELO Commercials

9:46/30---Remodelers Show

 

Todd Boots, Jerry Berg---Steven Swenson----Janelle Cain—

---on what they see---


On top of their down payment—recent buyers spent an average of $31,502 on upfront home-buying expenses—such as repair costs, closing costs, moving costs, and other miscellaneous expensesThat’s  times more than the $8083 the average home buyer expected to spend on those expensesRepeat buyers spent 28,260 on additional home-buying expenses beyond the sale price, but first time home-buyers spent about 30% more $36,340Although 64% of buyers say they felt fully informed about the total cost of buying a home before making an offer—81% were still surprised by at least one home-buying expense beyond the initial sales price75% of buyers say the cost of purchasing a home significantly impacted their finances in the first year of owning it.72% of home buyers have regrets about their purchase, with buyers most likely to regret not negotiating more with the seller (21%) underestimating post-purchase expenses (18%) and exceeding their budget (17%)Had they known the true cost of purchasing a home, 73% of buyers would have made different buying decisionsWith a different approach—buyers think they could have saved an average of $38,082 on their purchase.

    Our Home Builders Show on the first Monday of the month and the Remodelers Show on the 2nd Monday of the month gives us information aimed at the listener---they buyer—the seller---and those thinking about tomorrow.

    

    9:55/50—KELO Commercials

    9:57/30---Remodelers 5

------------our time is up—thank you for yours---look for a recording of this show on the KELO-AM Website

 

April 13, 2026&mdash;9-10----51-70
(((From the Blackburn Studios in Downtown Sioux Falls&mdash;Become a Blackburn PROTECTED HOME.
&nbsp;
(((MUSIC&mdash;THIS OLE HOUSE)))
((((((Yee Hah----I&rsquo;m Bill Zortman and welcome to the Remodelers Show&mdash;the 2nd Monday in a row that we do our real estate Report Card and then this week the Remodelers Show. Something we have done for more than a decade)))
&nbsp;
&nbsp;&nbsp;One of the guests who has been part of the show for virtually every one of them ---is Tony Bachman----long time real estate agent&mdash;and a well-respected broker in his own right---
&nbsp;&nbsp;&nbsp;So on this April 13th&mdash;Tony is back with us ---Teddi Mueller&mdash;Home Builders Association Executive&mdash;Dave and Kelly Kelly&mdash;Fairway Mortgage plus one---Todd Boots---Steve Swenson&mdash;Handyman---Joe Hanson---Jerry Berg----Jannelle Cain---who works with buyers and sellers---
&nbsp;&nbsp;&nbsp;Tony help set the stage with us on these ingredients
The "Headline" Numbers (March 2026 vs. March 2025)
Median Sales Price is Up:&nbsp;The median sales price for the region rose&nbsp;3.2%&nbsp;year-over-year, moving from $315,000 to&nbsp;$325,000.Numbers look like a massive Spike in Pending Sales:&nbsp;Pending sales (homes under contract) saw a staggering&nbsp;128.7% increase, jumping from 348 last March to&nbsp;796&nbsp;this year. Note changes in how we report pending sales has changed which makes this number look like it does.Inventory is Shrinking Fast:&nbsp;The number of homes available for sale dropped&nbsp;29.3%, with only&nbsp;1,355 homes&nbsp;on the market compared to 1,916 at this time last year.Months Supply of Inventory:&nbsp;The market has tightened significantly. We currently have a&nbsp;3.2-month supply, a&nbsp;38.5% decrease&nbsp;from the 5.2-month supply we saw in March 2025.
Market Speed &amp; Sector Trends
Homes are Taking Longer to Sell:&nbsp;Despite high demand, the average&nbsp;Days on Market&nbsp;increased&nbsp;10.6% to 104 days.The "Sweet Spot" for Activity:Fastest Sellers:&nbsp;Homes in the&nbsp;$200,000 to $250,000&nbsp;range are moving the quickest, averaging about&nbsp;80 days.Slowest Sellers:&nbsp;Luxury homes priced at&nbsp;$2 million and above&nbsp;are taking significantly longer, averaging&nbsp;233 days.Surprise in the Luxury Market:&nbsp;The price range with the&nbsp;largest gain in sales&nbsp;over the last 12 months was the&nbsp;$1.5 million to $2 million&nbsp;bracket, which saw a&nbsp;58.3% increase.New Construction vs. Previously Owned:New construction homes are fetching a higher median price of&nbsp;$376,650.The inventory of&nbsp;Previously Owned&nbsp;homes saw a much steeper decline (-36.9%) than New Construction (-9.7%).
Critical Insights for Buyers and Sellers
Negotiation Room:&nbsp;Sellers are receiving an average of&nbsp;96.8% of their original list price, which is a slight&nbsp;0.5% dip&nbsp;from last year. This suggests buyers have a tiny bit more room to negotiate than they did a year ago.Affordability is Holding Steady (but tight):&nbsp;The Housing Affordability Index dropped slightly (-0.8%), meaning the median household income is&nbsp;121%&nbsp;of what is necessary to qualify for a median-priced home.National Context:&nbsp;Locally, our sales activity is reflecting a national trend where&nbsp;lower mortgage rates&nbsp;have helped boost buyer activity across the Midwest, South, and West.
If you are a&nbsp;seller, the inventory shortage is in your favor&mdash;there are&nbsp;nearly 30% fewer competitors&nbsp;on the market than last year. If you are a&nbsp;buyer, be prepared for a faster-moving market in the mid-range price points, as the months' supply of inventory has plummeted.
&nbsp;Neil King&mdash;Sioux Falls expert and counter on all that is sold---
&nbsp;Teddi Mueller---Home Builders Association
&nbsp;&nbsp;
&nbsp;&nbsp;----------where are we---what are we seeing----and now that we are in the springy season---where do we go from here----
&nbsp;
9:18/00&mdash;KELO Commercials
9:20/00---Remodelers Show 2
-----welcome back to the Remodelers Show---as we do on the first Monday&rsquo;s of the month&mdash;we check the numbers on buying and selling homes---in the report card show---the 2nd Tuesday becomes the remodelers shows which gives us diversity in where we are and where we are going----&nbsp;
----------Lets go back to those guests&mdash;in the business
&nbsp;&nbsp;Tony Bachman---longest member from the show&mdash;puts together the notes he is seeing&mdash;and lets continue with a few of those
&nbsp;&nbsp;&nbsp;Neil King---does the counting----for the County---and what are you seeing for the first 3 months&mdash;and now 2 weeks into April---
&nbsp;&nbsp;&nbsp;Teddi Mueller&mdash;with the Home Builders Association gets us the insight on what she sees&mdash;hears&mdash;and works with her members on---
------------Teddi----------------
&nbsp;&nbsp;&nbsp;From these figures&mdash;and experiences---it gives us a chance to look ahead---for the rest of April----and thru May and June---in the first half of 2026----
------------Teddi----------------
&nbsp;&nbsp;&nbsp;Upcoming events---projects the Home Builders are working on&mdash;and what else we should know---
-------------Teddi---------------
&nbsp;&nbsp;&nbsp;When we come back&mdash;we&rsquo;ll get the Bankers Update in our Remodelers Sow for April 2026---
9:29/00&mdash;KELO Commercials
9:30/00---fox biz News
9:32/30---Remodelers Show 3
&nbsp;&nbsp;&nbsp;This side of our Remodelers Show gives us Dave and his wife Kelly Kelly---they see the numbers&mdash;and let us know what else is in the works&mdash;
&nbsp;
&nbsp;&nbsp;&nbsp;Dave you are in Minnesota&mdash;and your wife Kelly is in North Dakota---
--------one thing you shared with us &ndash;is that you wanted to share the Arrive Home Program---offered in 49 of the 50 states and is new &ndash;down payment program in conjunction with an FHA 1st Mortgage ---
&nbsp;&nbsp;------- it is&nbsp; similar to SDH PLUS but no income limits----
----I think many first time homebuyers struggle to come up with down payments in conjunction with an FHA 1st Mortgage---
&nbsp;&nbsp;&nbsp;&nbsp;Lets also talk about the f1rst time&nbsp; homebuyers struggle to come up with a down payment but are not aware of the additional costs of purchasing a home&nbsp;
&nbsp;&nbsp;&nbsp;Buyers spent an average of $31,502 on home-buying expenses&mdash;beyond their down payment&mdash;quadruple the $8,083 they expected to pay for these costs.
&nbsp;&nbsp;&nbsp;Home-buying costs/renovation costs, concession costs, first-time vs Repeat Buyer Costs&mdash;most surprising costs/homeownership&rsquo;s impact on finances&mdash;home buying regrets, alternate approach&nbsp;
&nbsp;&nbsp;&nbsp;Buying a home isn&rsquo;t just expensive&mdash;it&rsquo;s also a serious financial commitment that extends well beyond the formidably high purchase price although home buyers often view the down payment as he most daunting expense, it is only one of many upfront charges involved in the purchase.
&nbsp;&nbsp;&nbsp;&nbsp;In addition to their down payment, buyers spent an average of $31,502 on upfront home buying expenses, according to a new survey of 1,000 recent home buyers from Best Interest Financial and Clever Real Estate
&nbsp;&nbsp;&nbsp;Many home shoppers start the process feeling financially prepared with 64% saying they initially felt fully informed about the total cost of buying, BUT 81% were still surprised by at least one home-buying expense beyond the sale price.
&nbsp;&nbsp;&nbsp;Without a full understanding of the costs, the average buyer spent about 4x more than expected on upfront home-buying costs.
&nbsp;&nbsp;&nbsp;Americans who are already struggling with the rising cost of living have little capacity to absorb large unplanned housing costs, and 75% of respondents say the cost of buying a home significantly impacted their finances in the first year of owning it.
&nbsp;&nbsp;&nbsp;&nbsp;Had they know the true cost o buying a home&mdash;73% would have made different decisions. With a different approach ,buyers think they could have saved an average of $38,082 on their purchase
&nbsp;&nbsp;&nbsp;&nbsp;We&rsquo;ll talk about the true cost of purchasing a home and how buyers would have approached the processed&nbsp; if they had better informed.
&nbsp;
&nbsp;&nbsp;&nbsp;We&rsquo;ll look at more numbers and talk with others who work with is in our Report Card and Remodelers show-next
9:45/00&mdash;KELO Commercials
9:46/30---Remodelers Show
&nbsp;
Todd Boots, Jerry Berg---Steven Swenson----Janelle Cain&mdash;
---on what they see---
 On top of their down payment&mdash;recent buyers spent an average of $31,502 on upfront home-buying expenses&mdash;such as repair costs, closing costs, moving costs, and other miscellaneous expensesThat&rsquo;s&nbsp; times more than the $8083 the average home buyer expected to spend on those expensesRepeat buyers spent 28,260 on additional home-buying expenses beyond the sale price, but first time home-buyers spent about 30% more $36,340Although 64% of buyers say they felt fully informed about the total cost of buying a home before making an offer&mdash;81% were still surprised by at least one home-buying expense beyond the initial sales price75% of buyers say the cost of purchasing a home significantly impacted their finances in the first year of owning it.72% of home buyers have regrets about their purchase, with buyers most likely to regret not negotiating more with the seller (21%) underestimating post-purchase expenses (18%) and exceeding their budget (17%)Had they known the true cost of purchasing a home, 73% of buyers would have made different buying decisionsWith a different approach&mdash;buyers think they could have saved an average of $38,082 on their purchase.
&nbsp;&nbsp;&nbsp;&nbsp;Our Home Builders Show on the first Monday of the month and the Remodelers Show on the 2nd Monday of the month gives us information aimed at the listener---they buyer&mdash;the seller---and those thinking about tomorrow.
&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;9:55/50&mdash;KELO Commercials
&nbsp;&nbsp;&nbsp;&nbsp;9:57/30---Remodelers 5
------------our time is up&mdash;thank you for yours---look for a recording of this show on the KELO-AM Website
&nbsp;

Bill Zortman brings entrepreneurs and community and state leaders together to talk about business.