Mesa County housing market on the rise
GRAND JUNCTION, Colo. (KKCO) - The housing market took a toll last year due to the pandemic. But as the economy starts to pick up, so are costs for materials, such as wood.
In the last year, all building material prices have gone up 58%. Lumber has even tripled in price. But the economy is starting to boom.
As the economy opens, construction companies are trying to keep up with this steep price growth. All while still paying their builders and not go too far over budget. This has been a real challenge due to the skyrocketing supply and demand for building materials.
Here in Mesa County, overall housing prices are up 15% from this time last year and building permits are up 58%. Active listings are down 73% as builders struggle to keep up with the demand for housing, according to the latest Bray Report.
Contractors and construction companies are doing everything they can to keep prices low and build fast, to keep up with the demand for housing. As more housing is built, prices are expected to go down as the demand decreases. However, experts tell us more and more people are flocking to the Western Slope because it is more affordable compared to big cities. So only time will tell when will this demand will decrease.
Copyright 2021 KKCO. All rights reserved.