Lumber prices fall fast, but building costs remain high

Lumber prices have dropped like a stone in recent weeks following months of record highs, but builders are still waiting to see the benefits of that fall. Meanwhile, new home prices keep on rising. The high price of lumber has long been cited as one of the main factors driving up home prices over the

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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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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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Builders take drastic measures to deal with rising lumber costs

Home builders say they have adopted a range of tactics to try and protect themselves from the rising cost of lumber, which is perhaps the single-most important building material that goes into any new home. The price of lumber has risen dramatically over the last year and remains extremely volatile, and that’s having a negative

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Lumber prices rise again, impacting home affordability

Lumber prices hit another record high last week, with the price having risen now by more than 170% in the last 10 months, according to a report by the National Association of Home Builders. That’s bad news for buyers, as home builders have responded by increasing the prices of new homes. The soaring cost of

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Builders say cheaper lumber could relieve rising home prices

The cost of new homes has been steadily climbing due to rising lumber prices, but a new report says that relief could now be on the way. That’s because lumber futures are showing signs of falling, according to builders recently surveyed by Zonda, a research firm formerly known as Meyers Research. That could be a

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Rising lumber costs add $14K to the price of new homes

The average price of a new single-family home has risen by 14% due to a spike in the price of software lumber, according to a report by the National Association of Home Builders. The report said that new single-family home prices have risen by $14,116 since April 17, while new multifamily homes have increased in

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