Home sales slowing in South Dakota

YANKTON, S.D.(WNAX)- Homes are still being sold and bought, but the pace is slowing just a bit.

Mason Schramm, broker with “The Move Group” in Yankton says new construction is helping but more is needed.

Schramm says a new development in Yankton is still expanding.

There was a surge of out of state buyers swooping in with loads of cash. Schramm says they are seeing that slow down too.

Schramm says higher mortgage interest rates are also having an impact on real estate sales.