It seems the numbers for residential housing are way down, and developers are pushing towards building apartments;
The most noticeable drop is in new housing construction, which totaled $34.6 million, or 77 single-family homes, through April. Last year, it was $98.2 million, or 281 homes, and in 2021 it was $110.8 million, or 321 homes.
What is even more shocking is how the average price of a home in Sioux Falls is $100k more in just one year; 2021 ($345K) 2022 ($350K) 2023 ($450K). With an average mortgage rate of $4,000 a month. Real affordable? Huh? You would have to have a yearly household income of around $150k to afford this.
It is becoming more and more expensive to own a home in Sioux Falls.
