April 6, 2026—9-10---Report Card Show---51-61

  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 our REPORT CARD SHOW—OUR MONTHLY LOOK at the Building Numbers—from the Real Estate Association---and the HOME BUILDERS

For MORE THAN A DECADE on the First MONDAY OF THE MONTH—we have brought you the Report Card Show ---taking a look at the official numbers from the REAL ESTATE ASSOCIATION---with help from Realtors, others than bank—are home builders---and help buy and sell homes------This is show 51-61----and we start with Tony Bachman---who has been working this show since it started---and continues even today-----

   We start with Tony Bachman—who is the longest running member of the Report Card Show—and the Remodelers Shows---he is quite the real estate leader---and he helps us understand where we are after the first quarter of 2026---and where we are going---

Here are the top eight takeaways regarding the current state of the real estate market:

1. Don't Be Misled by "Weather Noise": The sluggish sales data from January 2026 was largely due to Winter Storm Fern, which disrupted closings across the country. This "weather noise" has made it difficult to see the true underlying momentum, but a strong rebound is expected as the weather clears.
2. Spring Momentum is Coming: Weekly housing demand has already begun to rebound as the effects of the late-January snowstorm fade. History shows that a significant amount of new inventory typically hits the market in the spring, leading to faster sales and more prevalence of multiple offers.
3. Inventory is Making a Significant Comeback: Active listings in February 2026 reached 914,860, which is higher than the levels seen in the previous five years (2021–2025). This trend suggests that the market is finally returning toward pre-pandemic inventory levels, offering buyers more choices.
4. Contract Cancellations are at a Record High: In January 2026, 13.7% of home-sale agreements were canceled—the highest January share recorded since 2017. With nearly 40,000 deals falling through in a single month, buyers are showing they are much more willing to walk away if they aren't satisfied.
5. Buyers are Becoming More Selective: Because sellers now outnumber buyers by a record margin, buyers have more leverage. They are frequently using inspection contingencies to back out of deals, often citing structural issues as the reason even when their primary concern is actually the high cost of mortgage payments.

o    Mortgage Rates are at a 3.5-Year Low: The weekly 30-year fixed mortgage rate has 

1. stabilized near 6%, its lowest level in three and a half years. This decrease, coupled with stabilized inflation (holding between 2.6% and 3% for two years), is a primary driver for the recent rebound in housing demand.
2. The Economy is More Resilient Than Headlines Suggest: While some headlines signal fear, the data shows that economic growth is expected to rebound in early 2026. The weakness at the end of 2025 was attributed to a "one-off" government shutdown rather than a structural decline, and unemployment remains steady at 4.4%.
3.  Closing Advice: Become a Strategist, Not Just a Consumer

o    The Message: Encourage listeners to stop reacting to headlines and start reading the signs—interest rates, job creation, and wage growth—as the "soil" the whole business grows in.

o    The Goal: A true real estate professional advises clients on how to be on the right side of the inflation equation.Inflation rewards homeowners with fixed-rate mortgages primarily by allowing them to pay back their debt with devalued currency while the value of their asset increases. Inflation is defined as a reduction in the purchasing power of money over time, meaning each dollar buys fewer goods and services. While the prices of everyday items like food and gas rise, a fixed-rate mortgage payment remains constant.

   Neil King---monthly figures---

Just ahead---we’ll check with Teddi Mueller—Craig Wynia at 9:32 Dave Kelly and Kelly Kelly—stay with us

9:19/00—KELO Commercials

9:20/30---Report card 2

   Neil King works with us on the monthly figures----

   Teddi Mueller—who heads the Home Builders Association weighs in here as well---

  ---------Neil---talk to us about what you saw with the figures for January-February-March-----

  ---------Neil-------------------

    Trends that you have seen from year to year----and what you expect the rest of 2026?

-----------Neil-------------------

    Teddi—upcoming events –and what seems to be on the minds of the Home Builders Association----

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

    When we come back—we’ll check with the Bankers----and yes the husband – wife team that helps us with the financials and expectations for the Real Estate Shows---

9:28/30---KELO Commercials

9:30/00---fox biz comml-news

9:32/00---Report Card 3

   The Tradition with our financial leaders in the show—to put them smack dab in the middle of the hour long event---

   Dave Kelly and his wife Kelly Kelly join us---and anyone buying or selling a house wants to know interest rates---trendings---and what is coming in the near future---

   Dave---Kelly---tell us what you ae seeing as we are now 6 days into the 2nd quarter of 2026---

-----------Dave—

   Concerns those buying and selling have—as we have hit the 4th month of the year---

-----------Dave---------------Kelly-----------------

   Interest rates and what else you see as important---

   How they reach you-------

----just ahead---we’ll talk with more of those associated with the Home Builders----and your buying and selling of your homes—

9:43/00—KELO Commercials

9:44/30---Report Card 4

  This is our Monthly Report Card Show----and we have those who worked closely with us—join us in this segment

Todd Boots--------Steve Swenson----Janelle Cain---Joe Hansen----Jerry Berg----

-----------what you see-----and what concerns those you serve are asking about---

 -----------Expectations for April thru June and July----------

------------Questions you are being asked----

Tina Heeren---Gil Hauga.com

• Sioux Falls: Raising Cane’s is moving toward a Sioux Falls location and has issued construction bids for the former David’s Bridal site at 4004 W. 41st St.
• Sioux Falls: Early Bird announced a Sioux Falls location at 3101 W. 41st St. on March 30, 2026.
• Sioux Falls: Two restaurants are planned in the first building at Harmon Crossing near East 41st Street and Veterans Parkway, adding more momentum to that growth corridor.
• Sioux Falls: The city reported $212.7 million in first quarter 2026 permit valuation, which is a strong indicator that commercial construction activity remains very active.
• Tea: Jersey Mike’s announced a Tea location on January 29 in a retail center next to Interstate 29, with the franchisee expecting it to open midyear.
• Harrisburg: The city issued a March 2026 RFP for architectural services for a new City Hall in Central Park, with proposals due April 1, showing the project is moving into the next phase.
• Madison: EmBe Education Madison held its grand opening and ribbon cutting on March 31, and the chamber described the project as something made possible through years of work and community support.

Additional talking points on state and county funding for economic development

• At the state level, South Dakota has real financing tools behind business growth, not just marketing language. The Governor’s Office of Economic Development says the REDI Fund is the state’s flagship financing tool, available to startups, expanding or relocating businesses, and even local economic development corporations.
• State funding is still moving into projects. In one GOED financing update, the state reported approved loans and grants tied to more than $121 million in capital investment, showing South Dakota continues to use public financing tools to help projects move forward.

9:55/00—KELO Commercials

9:56/30---Report Card 5

---coming up in the 10:00 hour---the Ag Business show—which includes Mr. Auction—Chuck Sutton and Mr. Lincoln County Jim Schmidt-----

   Questions for us feel free to call us at 605-728-2455 (BILL) or email me at bill.zortman@mwcradio.com.

------------for now our time is up—thank you for yours