By Mike Bodeen · 13 April 2026
Active Listings are near their highest point for this time of year (April) since 2014. They’ve been increasing monthly since the beginning of the year and are expected to continue increasing as the outcome of inflation has already seen an unprecedented increase in oil/gas due to the Iranian war. A short war does not appear to be in the cards.
Up to this point, home prices had remained stable, even increasing slightly (see chart), though mortgage loan rates spiked and have remained high.
Up to this point, home prices had remained stable, even increasing slightly (see chart), though mortgage loan rates spiked and have remained high.
“As we discussed before…no one was expecting that sort of a response from a global pandemic. Might we be seeing the same result from a global war?”
The real test however may come shortly as the war continues to force oil/gas prices higher. If this is a prolonged conflict, rates could rise further, and depending on where they might end up, could all but shut down sales while watching listings increase.
As with the Covid-19 era, where we expected the market to die, it instead spiked from a median price of $280,000 in winter of 2020 to $450,000 2+ years later. As we discussed before in Mike’s Snapshot no one was expecting that sort of response from a global pandemic. Might we be seeing the same result from a global war?
There are differences that might prevent that, mainly the higher mortgage rates we’re currently experiencing. This global conflict, should it continue would normally result in fewer sales and increased listings, which normally would drive down prices. This is good news for buyers, except those dependent upon mortgage rates.
Current mortgage rates, though they’ve risen had been holding around 6.5%, which was down from near 8% just a few years ago. Still much better. How long these rates can prevail is unknown but watch the prices at the pump – they may be our tea leaves.