Single-family housing construction cooling across South Dakota
Interest rates and long winter to blame
Permits for new single-family homes are down in the first four months of 2023 in cities across South Dakota, evidence of a slowing housing market amid rising interest rates.
But some cities, according to a review by The Dakota Scout, are seeing a bigger slide than others. Sioux Falls would be among them.
In the first four months of 2023, Sioux Falls saw a 73 percent decrease in the number of new homes slated through April. In contrast, Rapid City saw a milder 14 percent decrease. U.S. Census data from 2000-2022 showed high migration levels to the Black Hills.
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