SIOUX CITY, Iowa (KCAU) – With the new year comes new housing options in Siouxland. The Sioux City City Council approved a change to area and width requirements, for newly constructed townhomes. Approval of the measure, serving as a boost for local housing options.
“Right now it’s been a seller’s market. I think the hardest part for people is, after you sell your home, where do you go,” Rick Bertrand, the President of Bertrand Construction said.
Rick Bertrand builds townhomes. The proposed reduction of townhome lot requirements, from 7,000 square feet per unit to 5,000, could mean more availability.
“So from a housing perspective, we’ve been able to sell about roughly 48 townhomes in the last two and a half years, so the market has been good for townhomes. I think that it will continue to be strong if the economy stays with us,” said Rick Bertrand.
Realtor Tonya Vakulskas said townhomes are becoming more in demand.
“First of all, townhomes and condos tend to have an association which helps with maintenance and also people that are looking to downsize but still want to retain ownership, a townhome or condo is often a good choice for those individuals,” Keller Williams Realtor Tonya Vakulskas said.
Vakulskas said now is a great time for developers to provide new housing options for a growing Sioux City.
“I believe we will continue to see low housing inventory on the horizon and builders rushing to keep up with the demand,” Vakulskas said.
“At some point, people get tired of the third floor, they want a pet, they like a backyard and I think that’s why you see the housing market and townhomes, in particular, continue to boom,” Bertrand said.
Vakulskas also said that very low-interest rates have also contributed to the low housing inventory.