Unusually cold weather coupled with a few negative factors, plus the typical seasonal shift has slowed the market. Fewer homes coming on the market, fewer sales, lower inventories, and slightly falling mortgage rates.Forecast:
Mortgage rates might slip slightly under 5% for a 30 year loan. Asking prices will be lower. Inventory level will decrease. Sales will slow slightly until after Christmas.
|Sioux Falls||Total Area|
|Active Number of Listings||714||697||1117||1090|
|New Listings added this period||175||157||268||231|
|Number of Pending Sales (not closed)||134||115||193||160|
|Number of Sold (closed)||144||145||214||190|
|Number of Homes Off Market (Inactive)||65||81||94|