SIOUX FALLS, S.D. (KELO) — Building permit values are nearly $1 billion lower than 2022, according to the city of Sioux Falls.

The value of building permits from January through September is $881,823,656 compared to $1.7 billion in 2022. The value through September of 2021 was $868,298,401.

The total number of permits has dropped by nearly 3,000 from 9,075 to 6,042. The number was 5,729 in 2021.

The city continued its trend of a declining number of single-family housing units. Those permits totaled 349 compared to 593 in 2022 and 697 in 2021. The permits for multi-family housing has also declined. The total number of multi-family housing units is 1,553. It was 3,255 in 2023 and 1,592 in 2021.

The value of new residential permits is $150.4 million compared to $216.6 million in 2022 and $246.5 million in 2021.

New commercial values lead the way in building permit values this year. The value was at $453.5 million which is less than half of the $1 billion in 2022.