Insane lumber prices mean crazy increase in new home prices

By Tim Glaze | Housing Wire

With lumber prices and other building material costs still at record-high levels, homebuilder confidence fell two points in March, per the latest report from the National Association of Home Builders.

That drop in builder confidence is in spite of sky-high buyer demand, which hasn’t waned despite rising home prices and climbing mortgage rates – the latter up 30 basis points from February.

The COVID-19 pandemic shut down a large swath of lumber mills in early 2020, handcuffing homebuilding crews all over the country and forcing home prices upward. NAHB Chairman Chuck Fowke noted that supply shortages and high demand have caused lumber prices to jump “about 200%” since April 2020.

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