Housing Market Strong In SE South Dakota

Posted by South Dakota Real Estate

August 8, 2007

As skepticism is building in housing markets across the country, that’s not the case in KELOLAND. Halfway through 2007, industry leaders are reporting better numbers than last year.

Whether it’s being built from the ground up or an older home taking on a new look, the housing market in Sioux Falls is heading in a record-setting direction. Low mortgage rates, plenty of affordable homes for sale and a growing population are all benefiting real estate in South Dakota’s largest city.

“Overall, this is one of the most stable markets in the area,” said Bart Hacker CEO of the Realtor Association of the Sioux Empire.

Industry analysts say home sales in the city are up more than 5 percent from July 2006. Home prices are also rising at a rate faster than inflation. Both are signs Sioux Falls is not slipping into a slump, as national press about housing markets may have you believe.

The Realtor Association of the Sioux Empire tracks homes sales across five southeast South Dakota counties, and Hacker says all are seeing similarly positive trends.

By Matt Belanger, KELOLAND TV

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