• Rising lumber costs add $36K to new home sales prices

    10 days ago - By Inman

    The battle between supply and demand has hit the lumber industry hard, as mills struggle to keep up with demand and homebuilders push the costs to buyers.
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  • Expensive lumber costs have added $36,000 to the average price of a new home, report finds

    Expensive lumber costs have added $36,000 to the average price of a new home, report finds

    10 days ago - By Business Insider

    Summary List Placement Just a few months ago, in February, the National Association of Home Builders released shocking data about how the historic appreciation in lumber prices was crimping the housing market. A newbuild was $24,000 more expensive, on average.
    Three months later, that number now stands at $35,872.
    The housing market took off last summer, as the pandemic enabled many to work from home indefinitely, and with mortgage rates so low, many people rushed to buy new homes. But the pandemic shut down lumber production, and it hasn't kept pace with building since.
    "This...
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