For the first time in over three years, U.S. home sales have increased year over year, marking a significant shift in the housing market. October’s seasonally adjusted annual rate of 3.96 million home sales, coupled with the steady rise in home values, is giving both buyers and sellers new opportunities to thrive in today’s market.
Over the past five years, average home values have increased by more than 57 percent, and over the last 30 years, they’ve more than tripled, boosting homeowner equity nationwide. Locally, the Sioux Falls area mirrors this trend, with median home prices up 5 percent year over year in October, reaching $315,000.
What does this mean for you? Here are the key trends and opportunities to consider:
1. Rising Prices, Increasing Equity
For homeowners, the steady climb in home prices means more equity in your property. Nationally, the median home price reached $407,200 in October — a 4 percent year-over-year increase. This wealth-building trend is expected to continue, with the National Association of Realtors forecasting a 9 percent price increase in 2025 and 13 percent in 2026.
If you’re considering selling, now is the time to take advantage of this market. The demand for homes, paired with rising equity, creates a prime opportunity to secure a strong return on your investment.
2. Inventory Growth Balances the Market
Buyers are finally seeing more options on the market. Nationwide, housing inventory has increased by 19 percent compared to last year, providing buyers with a wider selection and less competition.
Locally, while housing inventory has decreased slightly by 2.5 percent, new listings are up nearly 10 percent, giving buyers access to fresh opportunities.
For sellers, this means standing out is more critical than ever. Professional staging, competitive pricing, and top-tier marketing are essential to attracting the right buyers in a growing inventory market.
3. Buyers Are Reentering the Market
The first year-over-year sales increase since 2021 signals that buyer confidence is returning. Job stability and economic growth are driving more people to reenter the market despite elevated mortgage rates.
Locally, lenders are offering competitive loan products, including 100 percent financing, closing-cost assistance, and rate buy-downs, making homeownership more accessible for buyers. With mortgage rates stabilizing, this is an opportune time to explore your options.
How We Can Help
At Amy Stockberger Real Estate, our Lifetime Home Support™ model is designed to guide you through every stage of your homeownership journey:
Selling? Leverage our Home Support Team Partners to prepare your home to shine in a competitive market.
Buying? Access exclusive off-market properties with our Exclusive Buyer Access Program and connect with lenders offering incredible financing options.
Whether you’re looking to capitalize on rising equity, navigate the growing inventory, or secure your dream home with confidence, we’re here to help you make informed decisions and maximize your success in today’s market.
📩 Ready to explore your options? Contact us today to create a personalized plan for your next move!
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