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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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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Lawmakers push for action on high lumber prices

Home builders say that the affordability of new homes will rest on the government’s ability to help reduce the cost of building materials such as lumber. The skyrocketing cost of lumber and other materials has pushed new home prices to record highs. At the end of March, the median sales price of a new built

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Higher building material costs could push new home prices up

New home sales fell slightly at the end of 2020 due to higher prices offsetting the strong demand from buyers that was seen throughout the year, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Although sales of new homes grew 1.6% in December, we saw much

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Experts warn Mexican tariffs will hurt housing market

Housing experts have warned that President Donald Trump’s plans to impose a 5% tariff on imported Mexican goods could have a negative impact on the real estate market, leading to higher home prices and more expensive household goods. For example, they say newly-built homes would become more expensive as building materials will cost more, CNBC

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