Sept. 8, 2025

This piece is sponsored by Amy Stockberger Real Estate.

By Amy Stockberger

Last week’s jobs report shocked the market. For months, the Federal Reserve told us the labor market was strong. But the numbers proved otherwise — unemployment is climbing, job growth is stalling, and the Fed was too slow to react. The result? Mortgage rates just dropped to the lowest levels we’ve seen since October 2024.

This matters more than you think.

Rates may have kept many buyers on the sidelines, but they haven’t gone away. In fact, Google recently reported that searches for “homes for sale” hit the highest level in two years. In fact, South Dakota had some of the highest search activity in the U.S. That tells us the interest is there — the affordability just hasn’t been.

We see it locally too. Our digital analytics show click-throughs on our listings are up compared with 2024. Buyers are watching. They’re waiting. And now, with lower rates, that pent-up demand is about to move.

Nationwide, existing home sales dropped to just 4.09 million in 2023 — the lowest level since 1995. Here in Sioux Falls, closed transactions are down 22 percent since 2020. That doesn’t mean people stopped needing homes — it means affordability locked them out.

Graduations, marriages, new jobs, divorces, babies, retirements — life hasn’t paused. And life changes are almost always followed by housing changes. Over the past few years, affordability stopped many from making that natural leap. But those needs didn’t disappear — they just piled up.

Now, with rates falling again, that demand is positioned to break loose.

Here’s something most people don’t realize: Low inventory creates more low inventory. When homeowners can’t find a replacement home, they hold back from listing theirs. That keeps the cycle going.

But when rates drop and buyers reemerge, it can unlock some of those stuck sellers — because more opportunities start opening on the buy side.

We’re still in a low-inventory market with less than four months of inventory in the greater Sioux Falls area. When more buyers jump back in, homes will go under contract quickly. And with fewer homes available, supply and demand will do what it always does — push prices up.

That means the best time to buy is before prices rise. Waiting until “it feels better” usually means paying more.

If you’re considering a move — whether buying or selling — the numbers matter. And the only numbers that truly count are local. There is no such thing as a national real estate market — it’s all micro, street by street and neighborhood by neighborhood.

That’s why we’re hosting our Home & Lifestyle Expo. Homeowners today have more equity than any time since the 1950s, and many are choosing to update and upgrade instead of move. We wanted to create a space where the community can connect directly with the very best local contractors to guide those projects, as well as lifestyle businesses that enrich the human experience.

We’ll be featuring our Home Support Team partners, hosting a $30,000 car giveaway contest and offering a $7,500-plus Home & Lifestyle giveaway. This is a family-centric event with a football alley, kids’ games and plenty of hands-on fun. And we’ll be on hand, offering instant ROI advice on any project you’re considering so you know the return before you spend a dollar.

We’ve got a few booths left! If your business wants in on this community event, now’s the time to apply to reserve your spot.

Mortgage rates just hit an 11-month low. Buyers are back. Inventory is still tight. Prices are set to climb. If you are waiting for a 4 percent interest rate, you likely will be in a long-term holding pattern. 

The window is open right now. Lower rates plus low inventory equal opportunity. The question is are you going to move with the numbers — or wait until the numbers move against you?

If you’re ready to explore your options, contact me today. I’ll show you how to make the smartest move before the market heats up further, backed by our Lifetime Home Support system that serves you before, during and forever.  Call us at 605-376-6780, or visit amystockberger.com to get started.

Check out our featured houses to call home.

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Amy Stockberger Real Estate to host inaugural Home & Lifestyle Expo

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