sioux falls, sd
It's that time of year again, where builders roll out the new carpet and showcase the latest trends in home construction. More than 65 homes are on display during the fall Parade of Homes this weekend in Sioux Falls.
On Sunday, hundreds of people browse the latest home trends showcased by the Home Builder's Association of the Sioux Empire. Among them are Chad and Holly Hank.
"We've kind of outgrown our house. We have three children and have a lot of toys and we need something bigger," Holly said.
Like most customers looking to build, the Hanks can't ignore the historically low interest rates.
"It really helps when you can get a lot more for your money than you used to with the higher interest rate," Chad said. "It makes a big difference right now with the lower interest rates, more attractive."
Dusty Rallis of Rallis Construction says things are really picking up in the new home construction market. In 2012 he now has more people looking to build than he has manpower.
"The interest rates obviously pushed things, helped the existing home market. Well there isn't a lot of inventory in the existing housing market," Rallis said. "If somebody was looking to upgrade houses, they don't have a lot of options other than building which is great for us."
But Rallis adds the only negative trend he's seeing this year is the lack of skilled laborers.
"The problem is, it is hard to find people to do the work now because a lot of people that were in construction, in trades and were good, they had to find other jobs," Rallis said.
And if interest rates stay low and demand continues to climb, home builders expect those trends to continue into next year.
The parade of homes continues Monday and picks up again next weekend. Admission is free for all homes excluding the $6 donation to tour the two Feature Homes.