Week in Housing: Nov. 13
October’s rate shock showed up in sales, prices and borrowing this week, while a hot CPI report put a larger December Fed hike in play even as mortgage rates eased.
Steve Thompson
Staff Reporter
Steve Thompson is a staff reporter for RealtyWire, where he covers residential real estate, mortgage trends, home sales, housing market data, real estate finance, industry regulation, and the issues affecting Realtors, buyers, sellers, lenders, and property owners.
Before joining RealtyWire, Steve worked as a mortgage broker, giving him direct experience with the financing side of real estate transactions. His background in the mortgage business gives him valuable insight into how interest rates, lending standards, affordability, buyer demand, and regulatory changes influence the broader real estate market.
Steve brings a practical understanding of home sales, market analysis, real estate trends, financing issues, and the laws and regulations that shape residential real estate. His reporting focuses on making complex market and mortgage-related topics clear and useful for readers across the real estate industry.
He earned a Bachelor of Science in Business from the University of Central Florida and currently lives in Orlando, Florida.
Articles by Steve Thompson
Steve Thompson
Boston Fed’s Collins Says Tighter Policy Can Limit Housing Supply as Construction Productivity Keeps Falling
Opening a Boston Fed housing conference Nov. 13, Susan Collins said higher rates can limit the housing stock needed to ease prices, while research shows construction productivity still falling.
Mortgage Rates Fall to 7.11%, a Seven-Week Low, Even as a December Fed Hike Looms
Freddie Mac’s 30-year average fell for a fourth straight week to 7.11%, its lowest since late September, but rates remain near a point above a year ago with a Fed hike expected Dec. 9.
Lofty Says Its AI Saved Agents 131,248 Hours in October in a New Monthly Index
Lofty’s AI Index counts 1.13 million AI-completed tasks for real estate agents in October, from lead follow-ups to social posts, and shows small independent teams lean on the tools most.
HELOC Balances Post Biggest Jump Since 2005 as Household Debt Hits $19.1 Trillion, New York Fed Says
HELOC balances rose $23 billion in the third quarter and the flow of mortgages into serious delinquency rose to 1.60%, the New York Fed’s household debt report shows.
Illinois Valley, Illinois Top 5 Home Sales: Lake Holiday Home Leads at $718,000
From the lake communities of Lake Holiday and Lake Thunderbird to more than two wooded acres in Marseilles, the week’s top sales spread across five towns.
Champaign-Urbana, Illinois Top 5 Home Sales: Champaign Leads a Week Stretching From Sadorus to Savoy
A Devonshire South home topped a week that also brought a country property with acreage, a mid-century home in Mahomet and a newer home in Savoy.
Columbus-Seymour Area, Indiana Top 5 Home Sales: A Riverfront Noblitt Falls Home Leads Sales in Columbus, Seymour and Westport
A mid-century home on the river, a Craftsman in Terrace Woods, a new ranch in Seymour, a creekside property near Westport and a pool home in Heather Heights made up the week’s top sales.
Detroit Lakes & Lakes Country, Minnesota Top 5 Home Sales: Pelican Rapids Lake Home Leads the Week at $885,000
Two lakefront homes, and three homes on rural acreage made up the week’s top sales, spread across five towns and three counties.
Door County, Wisconsin Top 5 Home Sales: Egg Harbor Condominium Leads a Week of Bay and Island Homes
Waterfront living, island acreage and a home sold as-is all made the week’s list, with prices running from $250,000 to $540,000.
Downriver-Monroe Area, Michigan Top 5 Home Sales: A Grosse Ile Riverfront Home Leads the Week at $875,000
A riverfront home built in 1900, a horse property in Petersburg, a new-construction ranch in Brownstown and newer homes in Carleton and Flat Rock made up the week’s top sales.
Dubuque Area, Iowa Top 5 Home Sales: Asbury Golf Course Home Leads at $1.6 Million
A newly built home on a golf course led a week that also included a wooded estate, a country property, a lakeside condominium and a two-story home in Maquoketa.
Flint Area, Michigan Top 5 Home Sales: Mount Morris Acreage Leads, Two New Linden Homes Follow
A ranch on farmland in Mount Morris topped the week, and two of the five sales were brand-new homes on the same street in Linden.
Great Lakes Bay Region, Michigan Top 5 Home Sales: A Midland Craftsman Leads, With Acreage in Birch Run and Lake Frontage in Sanford
Three Midland homes, a country ranch in Birch Run and a home on Sanford Lake made up the week’s five top sales.
Greater Mankato Area, Minnesota Top 5 Home Sales: Elysian Lake Home Leads at $645,000
A lake home in Elysian led a week of sales that ranged from wooded country acreage to brand-new construction.
Janesville-Beloit Area, Wisconsin Top 5 Home Sales: Riverfront Ranch in Beloit Leads a Week of Acreage and Newer Homes in Janesville
Rural acreage in Beloit and Janesville, a Castlemoor ranch and a brand-new home in Pine Ridge Estates fill out the week’s list.
Muncie-New Castle Area, Indiana Top 5 Home Sales: Wooded Acreage in New Castle Leads a Week of Rural Homes
Rural acreage with barns and woods shared the week with a home in a Yorktown neighborhood and a brick home from the 1930s in Middletown.
Muskegon-White Lake Area, Michigan Top 5 Home Sales: Whitehall Ranch Tops a Week of Wooded Settings
A six-bedroom ranch in Whitehall led the week, followed by homes in Muskegon and Norton Shores set beside a pond, a creek, public land and a lake.
Quad Cities (Illinois) Top 5 Home Sales: A $1.45 Million Sale in Geneseo Leads Homes in Port Byron, Coal Valley and Cambridge
Sales in Geneseo, Port Byron, Coal Valley and Cambridge led the week, with country acreage, pools and outbuildings running through the list.
South Suburbs, Illinois Top 5 Home Sales: Providence Manor Home in Matteson Leads at $436,500
Two ranches in Oak Forest, a quad-level in Homewood and a pair of two-story homes in Matteson made up the week’s top sales, and four of the five sold above their asking prices.
Springfield Area, Illinois Top 5 Home Sales: Country Acreage in New Berlin and Chatham, Family Homes in Springfield
Rural properties with room for horses and outbuildings shared the week with two homes in Springfield subdivisions, in a group that runs from a home built in the 1920s to one less than a decade old.
St. Cloud Area, Minnesota Top 5 Home Sales: A New Sartell Home Leads a Week of Sales in Saint Cloud and Cold Spring
Three of the week’s top five sales were in Saint Cloud, and the others were in Sartell and Cold Spring, with prices from $294,900 to $444,900.
Tri-Cities Area, Nebraska Top 5 Home Sales: Kearney, Grand Island and Hastings Homes Lead the Week
Two homes in Kearney, two in Grand Island and one in Hastings made the week’s list, with prices running from $318,400 to $424,560.
Waterloo-Cedar Falls & Cedar Valley, Iowa Top 5 Home Sales: Cedar Falls Leads a Week of Family Homes and Country Acreages
Two Cedar Falls neighborhood homes share the list with acreages near Waverly and Holland and a newer ranch in Shell Rock.
Wisconsin Dells & Baraboo Area, Wisconsin Top 5 Home Sales: Reedsburg Farmhouse Leads a Week of Country Homes
Acreage with barns and pasture, two ranch homes and a newly built home made up a week of country sales led by a farmhouse outside Reedsburg.
Youngstown-Warren Area, Ohio Top 5 Home Sales: Two Canfield Homes Lead the Week
Homes built from the 1970s through this year, from colonials to a new one-floor condominium, made up the week’s top sales, which ranged from $350,000 to $770,000.
Cedar Rapids Area, Iowa Top 5 Home Sales: Homes in Cedar Rapids, Ely, Marion and Robins Total $2.97 Million
Four one-story homes and one two-story home, two of them new construction, made up the top of the market across four Linn County communities.
Canton-Massillon Area, Ohio Top 5 Home Sales: A Saratoga Hills Ranch Leads at $499,900
Two one-story ranches and three two-story homes, built between 1994 and 2025, made up the week’s top sales, which ranged from $421,000 to $499,900.
Brainerd Lakes & Leech Lake Area, Minnesota Top 5 Home Sales: 120-Acre Pequot Lakes Horse Property Leads at $1.4 Million
A working horse property, lakefront homes and a 20-acre shop property made up the week’s top sales, from Pequot Lakes and Crosslake to Nisswa, Hillman and Brainerd.
Bloomington-Normal, Illinois Top 5 Home Sales: Eagle View South Home Leads at $515,000
Prices ran from $314,000 to $515,000, with five-bedroom homes in Bloomington and Downs at the top of the list.