Could the strong seller’s market be coming to an end soon?
The REALTOR Association of the Sioux Empire has released its September report.
It shows that home sales for the month fell 14 percent compared to September of last year.
Analysts predict that the housing market should remain strong for the rest of the year, but rising prices and interest rates could lead to fewer sales.
They also cite salary stagnation and younger adults waiting to buy houses.
Still, prices continue to grain traction in the Sioux Falls area. The Median Sales Price increased 3.8 percent in September to $200,250.