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Sioux Falls Real Estate
 

SF Housing Numbers Rise Substantially In 2012

By Kelly Bartnick
Published: January 2, 2013, 9:52 PM


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SF Housing Numbers Rise Substantially In 2012
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SIOUX FALLS, SD -

Sioux Falls 2012 building permit numbers are in. Single family homes rose by 80 percent in 2012. Builders say it’s a sign of an ever-increasing new housing market and calls have not stopped even though the ground has frozen over.

“It’s crazy the amount of phone calls you're getting and even with spec houses the amount of showings you're getting,” Home Builders Association of the Sioux Empire President Kevin Zomermaand said.

New residential homes rose to 628 in 2012. That's substantially higher than one year ago when new homes hit a ten year low. Remodeling also saw an increase of about $4 million over 2011’s numbers.

“A lot of guys were doing stuff they didn't normally do. A lot of guys did little remodels and stuff just to get by,” Zomermaand said.

Zomermaand says building crews are getting busier again. That means area builders' lists are getting longer too because customer confidence is up and interest rates have stayed low. And he says if you plan to break ground in 2013 and haven't called yet, you better hurry.

“We're getting houses lined up for this year, for the summer. We've got a lot of houses. So the quicker you could get in to get the process going, the quicker you get in the house,” Zomermaand said.

The rise is a long way off from the record years of the early 2000s when construction permits topped 1,000 annually. But because fewer new homes are on the market compared to the number of people who want them, they'll have to build. And that's why builders believe the rebound is just beginning.

Multi-family, twin home and duplex permits are also up.

The city issued $490 million in total permits. The number was propped up by large civic projects like the new events center, schools and other public buildings. The number is the second highest in the city's history, surpassed only by $527 million in permits issued in 2007.





© 2012 KELOLAND TV. All Rights Reserved.

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