SIOUX FALLS, SD (KELO.com) — With one month to go, Sioux Falls building is much slower than a year ago, but 2023 is still a good year. That’s the assessment from City Building Permit Chief Butch Warrnington. Most in the field knew it would be hard to keep pace with last year’s 1.8-billion dollar year, but Warrington says the Sioux Falls buildingpace is still strong.
Single family and Townhome unit numbers are down from two years ago, but Multiple Family structures are making up the difference. What about 2024? Warrington says there are several projects waiting in the wings that should get it off to a quick start.
Higher interest rates are mainly to blame for the drop in building projects this year.
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