Published by admin on Wed, 10/11/2023 - 9:49am
South Dakota’s housing market is showing signs of stagnation, with a sharp dip in building permits revealing a reluctance of potential buyers to construct new homes.
Building permits issued in South Dakota in the second quarter of 2023 were down 37 percent from the previous year, said Aaron Scholl, assistant professor of economics at Northern State University in Aberdeen. That’s more than twice the amount of downturn reported nationally (15.1 percent) and reflects a sharp turn from South Dakota’s building boom of 2020-22.