SIOUX FALLS, S.D. (AP) - Sioux Falls’ housing market is facing what could be the lowest supply of houses in recent history, meaning potentially higher costs and lots of competition for the few houses available.
Real estate agents say pending sales in the Sioux Falls metro area in January were up 50 percent from a year ago, but with so few houses for sale, they anticipate a difficult year ahead for homebuyers.
The Argus Leader (https://argusne.ws/2lkPrGI ) reports starter homes are especially scarce. The number of homes below $200,000 is down somewhere between 25 percent and 30 percent from last year.
A report from the Realtor Association of the Sioux Empire Inc. says that a continued decline in the number of homes for sale could push buyers out of the area when they can’t compete for houses selling at higher prices.
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Information from: Argus Leader, https://www.argusleader.com
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