Watch out: Lumber prices are increasing again

New home buyers need to brace themselves for yet more price hikes, as lumber prices are on the rise again. The extra costs will likely be passed on to home buyers by homebuilders, reports say. Lumber prices fell from record highs over the summer, but that decline seems to have been short-lived. Prices bottomed-out in

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Lumber price drop will save $40K per home, but buyers are unlikely to see it

Toll Brothers Chief Executive Doug Yearley has said the recent fall in lumber prices is helping builders realize some significant savings in terms of the cost of building new homes. But home buyers won’t see those savings, as they’re only helping to offset the rising costs of other building materials, he said. Yearley told CNBC’s

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Prices of building materials have soared in the last year

Building material costs have jumped by almost 20% in the last 12 months, and by 135 in 2021 alone, according to new data from the Bureau of Labor Statistics. The prices rises are putting pressure on home builders, who in turn are raising their prices. Buyers have seen new home prices rise to a median

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High lumber prices weigh on home builder confidence

Home builder sentiment has fallen to its lowest level since August 2020 due to rising construction costs pushing new home prices up. That has left some buyers sidelined while making it more difficult for builders to secure loans. The National Association of Home Builders/Wells Fargo Housing Market Index fell by two points to 81, below

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Builders have started auctioning new homes to the highest bidder

Home builders are fending off so many interested buyers that they have had to stop signing new sales contracts in order to focus on catching up with existing orders. That’s according to a report in Bloomberg this week, which said that builders have been overwhelmed as buyers turn to the new home market to make

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