I believe these kind of data is slightly misleading, because the price is directly affected by everything else that surrounds building a house these days.
Just some examples zoning/land use, building standards codes (electrical, plumbing, mechanical), permits, compliance, inspections, water, sewage, etc etc.
I am not advocating a wild west for building, but rules & regulations always increases and with that comes more costs.
This of course also drives higher rents, and if you think they are high now...
Anecdotally, the biggest driver I've seen in California is the large pushback against multifamily housing and large apartment buildings. In many of the hot real estate markets they would be able to get so much more value out of a parcel with these larger buildings but are forbidden to build them per zoning regulations.
Just some examples zoning/land use, building standards codes (electrical, plumbing, mechanical), permits, compliance, inspections, water, sewage, etc etc.
I am not advocating a wild west for building, but rules & regulations always increases and with that comes more costs.
This of course also drives higher rents, and if you think they are high now...