FILE: Housing prices have gone up on the Wasatch Front because construction hasn't been able to keep up with the growing demand, the Salt Lake Home Builders Association says. (Photo: KSL TV)
SALT LAKE CITY — You aren’t imagining skyrocketing home prices in Salt Lake City.
A new report from Construction Coverage shows the median price of a house increased by 42% since 2010 in the United States. But in Salt Lake City, prices rose 76.7% over the last decade.
A house that cost $225,000 dollars to purchase in 2010 now costs around $338,000, and climbing.
Salt Lake home prices aren’t alone
The Western U.S. saw the greatest increases in home sales overall after the Great Recession. But Lehigh Acres, Florida shows a 148% climb in purchase prices since 2010.
California reported the most cities, 17, with prices that more than doubled between 2010 and 2020.
Related stories:
- Home prices increase during the pandemic
- Salt Lake homebuyers face new high prices
- Young Utah homebuyers scramble as prices rise faster than incomes
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