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Housing Prices Increase by Ten Percent

Housing costs are climbing and realtors say it's a good time to sell. While builders say it's hard on pocketbooks.

"It's good for sellers because there's not a lot of inventory on the market, so if they wanna get the most for their house and have a time when there's a lot of buyers, now is the perfect time." Diego Nichalos, Realtor.

Well-paying jobs bring people to the state, causing a high demand for housing. In the past year, housing costs have increased by nearly 10-percent nationwide.

But for those looking to buy or build, you'll have to spend more. Baker-Wolfe says there have been price increases on two projects the Wyoming housing network is building.

"We had experienced pretty significant price increases on those from when we had put the packages together a couple years ago, so much more than ten percent." said Baker-Wolfe.

She says there's a specific reason for those price increases. "Going back and looking at it. Labor costs, concrete, and drywall, were the three biggest factors."

Baker-Wolfe says since after the housing recession, every year there has been some sort of increase in housing costs.

"Some years less than 10 percent though. I think in all my years of doing this there's been some years where its been pretty significant, where there's a huge spike in lumber costs. Or I can remember a few years back where there were really severe concrete shortages."


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