Our clients keep asking us “Why are home prices so expensive?” There are several reasons for the recent increases in home pricing. Lumber tariffs on imported lumber and a shut down of the lumber industry during COVID-19 in 2020 has pushed up lumber pricing by 340% from a year ago. This adds an additional $35,872 in costs to new home construction. Cobble this with increased demand in specific markets as home based employees “Live where you want, Not where you work” relocate. As more homes become available, home price increases will slow down, but until such time we will be mired in this competitive market.
We have seen a significant increase in the demand for housing in our Colorado and Wyoming markets. Multi-state relocation is a big driving force in Loveland, Fort Collins and Cheyenne. Having a Realtor who knows the market and how to win offers more important now than ever. Real Simple Housing is uniquely positioned to help working people as they relocated to both Colorado and Wyoming.
All housing figures come from CNBC
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