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

By Mike Wheatley | August 31, 2021
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 […]
Home Builders/Developer's

Prices of building materials have soared in the last year

By Mike Wheatley | August 18, 2021
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 […]
Home Builders/Developer's

High lumber prices weigh on home builder confidence

By Mike Wheatley | June 21, 2021
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 […]
Home Builders/Developer's

Builders have started auctioning new homes to the highest bidder

By Mike Wheatley | May 27, 2021
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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