Lumber prices, supply shortages putting squeeze on Valley home prices

By Paul Maryniak | The Mesa Tribune

As if low inventory wasn’t exerting enough pressure on home prices, two new trends are apparently adding to the surge – particularly for new houses.

The National Association of Homebuilders and the National Association of Realtors said a lumber shortage is accelerating the cost of new home construction while there also is a rising demand for larger houses – partly as the result of more stay-at-home and work-from-home time created by the pandemic.

“While the market remains solid, median home prices are increasing due to higher building material costs, most notably softwood lumber, and a shift to larger homes,” said Robert Dietz, chief economist for the National Association of Home Builders.

READ ON:

Share this!

Additional Articles

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories
February 2021
M T W T F S S
1234567
891011121314
15161718192021
22232425262728