June 8, 2026—9-10—It’s YOUR Business---Show 52-26

((((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 It’s YOUR Business---Show—The Remodelers Show—with the latest on Housing—and commercial trends—helpful to so many needing help with their home as well as including those Leaders that can help so many.)))))

 

On the first Monday of the month---we do the Report Card Show with leaders building, banking, buying and selling to so many))))

 

Today many of those same voices are back with explaining where we are ---and things you should consider.

 

Tony Bachman----has helped us put the shows together for more than a decade---we work with Teddi Mueller—the Home Builders Association, Neil King---who counts the building permits Dave Kelly and his wife Kelly Kelly –on the banking business they are doing. Todd Boots—past President of the South Dakota Home Builders Association---Steve Swenson the Handi-Man. Other advertisers are always welcome to be a part of the shows each month. They have ideas and we like to hear from them…like Todd Boots does…

 

Here are some of the notes that were released by the Realtors Association and Home Builders

 

 

Market Activity & Inventory

New Listings are down 2.2%: The region has seen 2,523 new listings so far this year, compared to 2,579 last year. This indicates a persistent challenge in bringing enough fresh inventory to the market.
Closed Sales have dipped 3.0%: Total completed transactions fell from 1,195 last year to 1,159 YTD in 2026.
Pending Sales are up 60.5%: On paper, pending sales jumped to 1,926 units. However, as previously noted, this figure is likely inflated due to new RESO-compliant reporting practices and should be interpreted with caution.

Pricing Trends
Median Sales Price is up 4.5%: The YTD median price for the region has climbed to $330,000, up from $315,900 in 2025.
Average Sales Price rose 6.9%: The average price is seeing even higher growth, currently sitting at $380,263.
Price Retention remains high: Sellers are receiving an average of 96.9% of their original list price, which is only a marginal 0.4% decrease from last year’s 97.3%.

Speed and Affordability
Days on Market (DOM) increased 8.4%: Homes are taking slightly longer to sell this year, averaging 103 dayscompared to 95 days during the first four months of 2025.
The Housing Affordability Index is flat at 120: Despite rising home prices, the index remained unchanged at 120 YTD, meaning the median household income is exactly 120% of what is necessary to qualify for a median-priced home under current rates.

While the monthly data for April showed a massive 8.8% spike in median price, the YTD view shows a more moderate 4.5% growth rate. The market is slightly slower (homes taking 8 days longer to sell) and slightly tighter on inventory, but overall pricing remains on a steady upward trajectory.

Based on the Housing Supply Overview and Monthly Indicators reports, the most significant inventory changes compared to last year are concentrated in the mid-to-high price ranges, where supply has been cut nearly in half.

Significant Inventory Decreases

While market-wide inventory is down 34.2%, the most drastic shortages are appearing in the $350,000 to $500,000 price brackets.
$450,001 to $500,000: This range saw the largest percentage drop in the region, with inventory plunging 50.0%(from 136 down to 68 homes).
$400,001 to $450,000: Supply in this segment decreased by 48.9%.
$350,001 to $400,000: Available homes in this range fell by 46.2%.
$250,001 to $300,000: This popular price point also saw a significant reduction of 39.4%.

Price Ranges Bucking the Trend (Increases)

Only three specific price segments showed an increase in available inventory as of April 2026:
$900,001 to $1,000,000: Inventory grew by 9.4%.
$2,000,001 and Above: The ultra-luxury tier saw a 9.1% increase in available listings.
$100,000 and Below: Supply at the very bottom of the market grew by 6.1%.

9:17/00—KELO Commercials

9:18/30---Remodelers  Show 2

 

---Dave Kelly-----

 

  BLS Jobs Report came out on Friday and there were approximately twice as many jobs created as expected. 

                              Expectations by economists were for 88,000 jobs to be created  and 172,000 jobs were created in May.  The unemployment report remained steady at 4.3%.

                              Due to fact this is looked at as inflationary, mortgage rates worsened on Friday.  The national average now is 6.67% according to Mortgage News Daily. 

 Due to the jobs report coming in strong, there is now the expectation that the Fed will not lower short-term rates any time in the near future.

 

               Some experts are expecting rates to peak at around 6.75% to 7% before improving.  The Iran war plays a significant roll in rates and where they are headed due to the increased cost of oil.

 

               The 2/1 buydown is still a very viable option that allows you to start with a 2% lower rate the 1st year and a 1% lower rate the 2nd year. Any funds provided by the seller can be used to offset the cost of refinancing in the future.

 

 

HECMS and making payments

-Many people get a reverse mortgage to eliminate their monthly mortgage payment.  This is particularly common for those that are on fixed incomes.  However, a huge benefit of the program is what happens when you make a payment!  If anybody above age 62 is taking out a traditional mortgage, I urge you to explore the reverse mortgage.  You can set up payments that amortize very similar to a traditional mortgage however, there is a huge benefit to making a payment to a reverse!!  It creates an available line of credit that grows by the interest rate and you can access those funds any time in the future.    Your liquidity increases every time you make a payment.  The opposite is true with a traditional mortgage.   The HECM rate is currently lower than a traditional 30Y mortgage rate.

 

               FHA’s annual report on the health of the Reverse mortgage shows that the insurance funds capital ratio is 24.06%.  Much higher than the statutory requirement.  The statutory requirement is 2%. 

 

                Where are we headed---with those in the show that work it every day---this second Monday reporting gives us insight that is special ----and useful---

 

9:28/00—KELO Commercials

9:30/00---Fox Business news

9:31/30---Remodelers Show 3

  Interesting times in Real estate—home building--- this is one of the two shows we do each month---that sets and shares the trends---that can affect so many people in the market to buy to build---or sell-----or remodel-----

 

  We’ve heard from Dave Kelly---but with his wife—Kelly Kelly—they give us so much information from the two highly different ways they work with the sellers---and the buyers.

 

   Todd Boots—served as President of the Home Builders Association a decade or so ago----he shares what that association has thought and is thinking---in their meetings today.

 

    Also in the show today is Laura Winger—Realtors Association of the Sioux Empire—covering for Callie Wockenfuss and Jack Zika—who were unable to be a part of the show with prior commitments---

 

    Among the notes---new listings are down 2.2% --to begin has seen 2523 new listings so far this year—and that compares to 2579 at this time last year

 

    Days on the market increased 8.4% --yes homes are taking slightly longer to sell this year—averaging 103 days compared to 95 days during the first four months of 2025.

 

    Teddi Mueller---heads up the Home Builders Association---and works well with all of us to understand the trends there.

 

     Vendors are invited to join us as part of our commercials—and working with those of us on the air.

 

     Questions for us---feel free to call or communicate. We appreciate this team—that helps interpret the news and look to the past—the present and tomorrow.

 

      Questions for us ---feel free to contact any that are in the show—and those we have asked to join the show to share their findings as well.  Our time is up—thank you for yours…

 

 

June 8, 2026&mdash;9-10&mdash;It&rsquo;s YOUR Business---Show 52-26
((((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 our It&rsquo;s YOUR Business---Show&mdash;The Remodelers Show&mdash;with the latest on Housing&mdash;and commercial trends&mdash;helpful to so many needing help with their home as well as including those Leaders that can help so many.)))))
&nbsp;
On the first Monday of the month---we do the Report Card Show with leaders building, banking, buying and selling to so many))))
&nbsp;
Today many of those same voices are back with explaining where we are ---and things you should consider.
&nbsp;
Tony Bachman----has helped us put the shows together for more than a decade---we work with Teddi Mueller&mdash;the Home Builders Association, Neil King---who counts the building permits Dave Kelly and his wife Kelly Kelly &ndash;on the banking business they are doing. Todd Boots&mdash;past President of the South Dakota Home Builders Association---Steve Swenson the Handi-Man. Other advertisers are always welcome to be a part of the shows each month. They have ideas and we like to hear from them&hellip;like Todd Boots does&hellip;
&nbsp;
Here are some of the notes that were released by the Realtors Association and Home Builders
&nbsp;
&nbsp;
Market Activity &amp; Inventory
New Listings are down 2.2%:&nbsp;The region has seen 2,523 new listings&nbsp;so far this year, compared to 2,579 last year. This indicates a persistent challenge in bringing enough fresh inventory to the market.
<ul>
<li>Closed Sales have dipped 3.0%:&nbsp;Total completed transactions fell from 1,195 last year to 1,159 YTD in 2026.</li>
<li>Pending Sales are up 60.5%:&nbsp;On paper, pending sales jumped to 1,926 units. However, as previously noted, this figure is likely inflated due to new RESO-compliant reporting practices and should be interpreted with caution.</li>
</ul>
Pricing Trends
<ul>
<li>Median Sales Price is up 4.5%:&nbsp;The YTD median price for the region has climbed to $330,000, up from $315,900 in 2025.</li>
<li>Average Sales Price rose 6.9%:&nbsp;The average price is seeing even higher growth, currently sitting at $380,263.</li>
<li>Price Retention remains high:&nbsp;Sellers are receiving an average of 96.9% of their original list price, which is only a marginal 0.4% decrease from last year&rsquo;s 97.3%.</li>
</ul>
Speed and Affordability
<ul>
<li>Days on Market (DOM) increased 8.4%:&nbsp;Homes are taking slightly longer to sell this year, averaging 103 dayscompared to 95 days during the first four months of 2025.</li>
<li>The Housing Affordability Index is flat at 120:&nbsp;Despite rising home prices, the index remained unchanged at 120 YTD, meaning the median household income is exactly 120% of what is necessary to qualify for a median-priced home under current rates.</li>
</ul>
While the monthly data for April showed a massive 8.8% spike in median price, the YTD view shows a more moderate 4.5% growth rate. The market is slightly slower (homes taking 8 days longer to sell) and slightly tighter on inventory, but overall pricing remains on a steady upward trajectory.
Based on the Housing Supply Overview and Monthly Indicators reports, the most significant inventory changes compared to last year are concentrated in the mid-to-high price ranges, where supply has been cut nearly in half.
Significant Inventory Decreases
While market-wide inventory is down 34.2%, the most drastic shortages are appearing in the $350,000 to $500,000&nbsp;price brackets.
<ul>
<li>$450,001 to $500,000:&nbsp;This range saw the largest percentage drop in the region, with inventory plunging 50.0%(from 136 down to 68 homes).</li>
<li>$400,001 to $450,000:&nbsp;Supply in this segment decreased by 48.9%.</li>
<li>$350,001 to $400,000:&nbsp;Available homes in this range fell by 46.2%.</li>
<li>$250,001 to $300,000:&nbsp;This popular price point also saw a significant reduction of 39.4%.</li>
</ul>
Price Ranges Bucking the Trend (Increases)
Only three specific price segments showed an increase in available inventory as of April 2026:
<ul>
<li>$900,001 to $1,000,000:&nbsp;Inventory grew by 9.4%.</li>
<li>$2,000,001 and Above:&nbsp;The ultra-luxury tier saw a 9.1% increase&nbsp;in available listings.</li>
<li>$100,000 and Below:&nbsp;Supply at the very bottom of the market grew by 6.1%.</li>
</ul>
9:17/00&mdash;KELO Commercials
9:18/30---Remodelers &nbsp;Show 2
&nbsp;
---Dave Kelly-----
&nbsp;
&nbsp; BLS Jobs Report came out on Friday and there were approximately twice as many jobs created as expected.&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expectations by economists were for 88,000 jobs to be created&nbsp; and 172,000 jobs were created in May.&nbsp; The unemployment report remained steady at 4.3%.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due to fact this is looked at as inflationary, mortgage rates worsened on Friday.&nbsp; The national average now is 6.67% according to Mortgage News Daily.&nbsp;
&nbsp;Due to the jobs report coming in strong, there is now the expectation that the Fed will not lower short-term rates any time in the near future.
&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Some experts are expecting rates to peak at around 6.75% to 7% before improving.&nbsp; The Iran war plays a significant roll in rates and where they are headed due to the increased cost of oil.
&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The 2/1 buydown is still a very viable option that allows you to start with a 2% lower rate the 1st&nbsp;year and a 1% lower rate the 2nd&nbsp;year. Any funds provided by the seller can be used to offset the cost of refinancing in the future.
&nbsp;
&nbsp;
HECMS and making payments
-Many people get a reverse mortgage to eliminate their monthly mortgage payment.&nbsp; This is particularly common for those that are on fixed incomes.&nbsp; However, a huge benefit of the program is what happens when you make a payment!&nbsp; If anybody above age 62 is taking out a traditional mortgage, I urge you to explore the reverse mortgage.&nbsp; You can set up payments that amortize very similar to a traditional mortgage however, there is a huge benefit to making a payment to a reverse!!&nbsp; It creates an available line of credit that grows by the interest rate and you can access those funds any time in the future.&nbsp;&nbsp;&nbsp; Your liquidity increases every time you make a payment.&nbsp; The opposite is true with a traditional mortgage. &nbsp;&nbsp;The HECM rate is currently lower than a traditional 30Y mortgage rate.
&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FHA&rsquo;s annual report on the health of the Reverse mortgage shows that the insurance funds capital ratio is 24.06%.&nbsp; Much higher than the statutory requirement.&nbsp; The statutory requirement is 2%.&nbsp;
&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Where are we headed---with those in the show that work it every day---this second Monday reporting gives us insight that is special ----and useful---
&nbsp;
9:28/00&mdash;KELO Commercials
9:30/00---Fox Business news
9:31/30---Remodelers Show 3
&nbsp; Interesting times in Real estate&mdash;home building--- this is one of the two shows we do each month---that sets and shares the trends---that can affect so many people in the market to buy to build---or sell-----or remodel-----
&nbsp;
&nbsp; We&rsquo;ve heard from Dave Kelly---but with his wife&mdash;Kelly Kelly&mdash;they give us so much information from the two highly different ways they work with the sellers---and the buyers.
&nbsp;
&nbsp;&nbsp; Todd Boots&mdash;served as President of the Home Builders Association a decade or so ago----he shares what that association has thought and is thinking---in their meetings today.
&nbsp;
&nbsp;&nbsp;&nbsp; Also in the show today is Laura Winger&mdash;Realtors Association of the Sioux Empire&mdash;covering for Callie Wockenfuss and Jack Zika&mdash;who were unable to be a part of the show with prior commitments---
&nbsp;
&nbsp;&nbsp;&nbsp; Among the notes---new listings are down 2.2% --to begin has seen 2523 new listings so far this year&mdash;and that compares to 2579 at this time last year
&nbsp;
&nbsp;&nbsp;&nbsp; Days on the market increased 8.4% --yes homes are taking slightly longer to sell this year&mdash;averaging 103 days compared to 95 days during the first four months of 2025.
&nbsp;
&nbsp;&nbsp;&nbsp; Teddi Mueller---heads up the Home Builders Association---and works well with all of us to understand the trends there.
&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp; Vendors are invited to join us as part of our commercials&mdash;and working with those of us on the air.
&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp; Questions for us---feel free to call or communicate. We appreciate this team&mdash;that helps interpret the news and look to the past&mdash;the present and tomorrow.
&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Questions for us ---feel free to contact any that are in the show&mdash;and those we have asked to join the show to share their findings as well.&nbsp; Our time is up&mdash;thank you for yours&hellip;
&nbsp;
&nbsp;

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