MITCHELL, SD (Mitchell Now) — As 2025 closes, national housing data shows a market that continued to appreciate but at a slower pace, with affordability still a central challenge for buyers.
Federal Housing Finance Agency data showed U.S. home prices were up 1.7% year-over-year in October, the slowest annual increase in more than a decade, according to reporting on the release. Freddie Mac’s weekly survey put the average 30-year fixed mortgage rate at 6.18% as of Dec. 24, down from a year earlier but still high by historical standards.
Locally, third-party market trackers showed continued gains in the Mitchell area. Zillow estimated the average home value in Mitchell at $241,745, up 4.8% over the past year. Redfin reported a November median sale price of about $226,000 in Mitchell, up 11.7% year-over-year.
Looking ahead, the National Association of Realtors has forecast existing-home sales could rise 14% in 2026, with mortgage rates projected to average around 6%. Fannie Mae’s ESR Group has projected mortgage rates ending 2026 near 5.9%.
Sasha Poparic, founder and CEO of Immobilium, said he is available to discuss 2025 trends and what to watch in 2026, including technology’s role and interest in international property investment.