Lumber prices fall dramatically as demand wanes

New home buyers may soon see some much-needed price relief, with reports saying that the lumber market bubble has finally “burst”. Lumber prices rose to record highs during the height of the COVID-19 pandemic, adding significantly to the cost of buying a new home. But the price of lumber is now falling fast, more than

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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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Canadian wildfires could send lumber prices rising again

Wildfires raging in Western Canada could send lumber prices sky high again in a move that would snuff out home buyer’s hopes of some price relief. Lumber prices had been cooling in recent weeks leading to hopes that new home prices would come down. The costs of remodeling projects were also set to benefit. But

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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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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 voice concern as lumber prices rise again

The cost of lumber has increased again after declining in September and November, and that could potentially lead to further increases in the price of new homes. In the past four weeks lumber prices have increased by almost 20% across the U.S., the National Association of Home Builders reported this week. These high lumber prices

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