If you've been watching the Grand Forks market from the sidelines, here's what you need to know heading into summer: this market is not cooling down — it's speeding up.In May 2026, 59 homes
Don’t Be Fooled by Remarkable Real Estate Headlines
Dated: April 22 2021
Views: 214
Don’t be impressed by the headlines reporting year-over-year housing numbers for the next several months (data covering March, April, May, and June). The data will most likely show eye-popping one-year increases.
While the year-over-year jumps will certainly be striking, consumers should take these numbers with a grain of salt, as the situation highlights a short-term quirk in the reporting of this data. Essentially, the increases will reflect a combination of two things: sharply lower housing numbers during last year’s virus-related market collapse and the subsequent strong rebound. This will result in what will appear to be unbelievable growth.
Let’s use single-family home sales as an example:
As the graph reveals, last spring’s buying market was anything but typical. Instead of sales increasing, they fell sharply as a result of stay-at-home orders that virtually shut the real estate industry down.
This spring’s real estate market will bounce back with more normal seasonal sales increases. The percentage increase in sales will be astronomical – not because sales have skyrocketed, but instead because they will be compared to last year’s low numbers.
Bottom Line
There are likely to be some sensational headlines about real estate over the coming months. However, don’t be fooled. The actual story is that the real estate market is finally back to normal.
Josh Steinke
In the dynamic world of real estate in Grand Forks, North Dakota, Josh Steinke stands out as a realtor with a deep connection to the community and a profound understanding of the local property market....
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Tax and special assessment figures are provided by the listing companies and are usually from the most recent tax bill, but buyer should verify amounts with appropriate governmental departments for accuracy and future estimates. New construction listings often have incomplete or no information on tax or special assessment estimates provided by listing companies, so they must be verified. Figures do not reflect any pending, proposed, or future special assessments which may be levied by governmental
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