Sioux Falls home building permits skyrocket to meet demand - KSFY News - Sioux Falls, SD News, Weather, Sports

Sioux Falls home building permits skyrocket to meet demand for more housing

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The city is in the midst of a home building boom, and it doesn't seem to be ending anytime soon.

KSFY News looked at the new numbers released today which show the demand is growing.

In the first three months of the year the city has more than $56 million in building permits.

More than double from last year and practically quadrupled from 2011.

One home builder tells us the demand for more houses continues.

The Sioux Falls housing market is booming, for builders. It's doing so well, some contractors can't keep up with the demand.

Kevin Zomermaand, president of the Home Builders Association said "it's crazy busy. It's unbelievable. Everybody I talk to has more work than they can handle right now and it's only going to get busier."

The housing market has skyrocketed in Sioux Falls during the past few years.

The value of housing permits has been growing rapidly more than doubling, year after year.

"Our National Home Builders Association predicted that housing was going to comeback in the Midwest first because there were a lot less foreclosures. There was a lot less housing on the market so whenever, there's less surplus, it's going to come back quicker," Zomermaand said.

We all want a place to call our own, so new houses mean more new neighborhoods and more money, and city services for all of us.

"It's also creating taxes, for property taxes and that's the thing the city thrives off of. The more taxes you have the more things you get, the more schools," Zomermaand said.

You can look almost anywhere in Sioux Falls and you're bound to see more and more houses being built.

"It's going on in all directions. I mean whether it's to the north and it's some commercial stuff, or even the west and the east, or the south, all of them. You drive anywhere and there's construction going on.">

The city only has a 30 day inventory of homes compared to a 24 month supply just two years ago.

Zomermaand credits low interest rates and the lack of housing as fueling the building boom.

he tells us 2006 was his company's best year but they are doing nearly as well when they were at their high.

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