Blog—June 2, 2025—9-10---Remodelers Show

   It has been a tradition for at least a decade---in our It’s YOUR Business Show—to feature the leaders of the home builders association, real estate association, bankers, and those that share supplies and materials for homes.

   Today was the first Monday of the month. 

   Tony Bachman---Coldwell Banker—helped us prime the pump for what was happening---and what we should know to start the show along with Neil King—Building Permit Chief for the City of Sioux Falls. Teddi Mueller---Executive Director of the Home Builders Association was part of the show as well—talking about the Repair Affair that occurs tomorrow, Cory Hjelming shared what he is seeing—and took the road that shares just how well the Sioux Falls Area is doing compared to other parts of the country.

    Dave Kelly and Kelly Kelly---talked the banking side. For Mrs. Kelly Kelly---she talked about the HECM Loan and how it has already affected so many people that are 62 or older. Husband Dave—has been working with our Report Card Show—and Remodelers show for years. Together they have a number of options that are really making a difference. 

    Kelly has a client who is purchasing another house because it fits them better in retirement. They are celebrating their 80th birthdays in July.

    For remodeling—they want to remodel the kitchen, the main floor bath, add a shop area in back for woodworking, a special stairs---

    They do not have any long-term care insurance and he is having some health issues so in addition to the remodel, they really like the protection the HECM offers. 

    For Dave—rates saw slight improvement last week as PCE came in at expectations. The Fed wants 2% and we technically cannot get there right now. The very fact that they are holding short-term rates higher, raised the price of autos which inflates the PCE report.

    We talked as well with Todd Boots—Past President SD Home Builders Association, Steven Swenson the Handyman—and Joe Hansen Extreme Heating and Cooling. 

    Here are the Sioux Falls Building Permit Figures for January thru May 2025—compared with 2023 and 2024.

    The figures were released this morning—just before our Remodelers Show went on the air----then we heard Neil King explain them—just after they were finished.

  ----------------------------------------2023----------------2024-----------------2025

Total Value of Permits ----$482,889,199----$394,387,798----$639,732,123

New Residential-----------------$53.4 M------------$71.6 M-------------$82.3 M

New Commercial---------------$270.9 M---------$208.8 M------------$369.4 M

Commercial Add/Remodel--$120.6 M-----------$81.5 M------------$155.6 M

    Most Americans are currently concerned about the housing market. 70% if Americans are concerned about a potential housing market—crash

    This concern is impacting people’s plans for major purchases, with 32% of those who planned a major purchase delaying it.

     This includes 1 in 4 (22%) who planned to buy a home and 1 in 8 (13%) who planned to sell a home

     The simple explanation provided: There are more people than housing inventory-which is described as “Economic 101”

     Our Remodelers and Report Card Shows for 10 years has been able to take the time—utilize he experts and explain to the audience where we are and where are going. We thank the associations—the experts-and all that have contributed. The listeners get that short-course and we know it is helping.