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Number Of New Homes Skyrockets In Sioux Falls

January 4, 2013, 5:34 AM by Austin Hoffman

Number Of New Homes Skyrockets In Sioux Falls
SIOUX FALLS, SD -

2012 was a great year for people in the housing business in Sioux Falls. The number of building permits was up substantially from the year before and things are still looking strong.

The City of Sioux Falls issued 628 building permits last year for single-family homes. It's an increase of around 80 percent from the year before.

"It really means a lot.  It shows both consumer and builder confidence too," Realtors Association of the Sioux Empire President-Elect Brandon Martens said.

Martens says any time he sees numbers like this, it's great news for realtors and for people looking to get into the business.

"You've seen more realtors going through classes as well as just being more involved with what the market is doing.  I think it’s a positive all the way across the board," Martens said.

In 2011, building permits hit a 10-year low.  Realtors Association Board Member Todd Thoelke says that meant there weren't many speck homes on the market.

"That’s why building is up; building permits are up. People are needing to go and talk to their builder and get something started because there’s not enough on the market right now which helps us for existing homes," Thoelke said.

Thoelke says many people building new homes may not go through a realtor but they usually do when they sell their old home. So it's good news no matter how you look at it.

"It's just good for all of us. We work hand-in-hand with the Homebuilders Association.  When they're doing good, we're doing good. If building permits are up, that means existing home sales are up as well, which the numbers are indicating,” Thoelke said.

Both Thoelke and Martens also say it's a great job creator as well. With more homes being built, builders need to hire more people to keep up with the demand.

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