New home building takes a hit on rising lumber costs

New home construction fell in February as the rising costs of building materials, especially lumber, weighed on builders. Data from the U.S. Department of Housing and Urban Development and Census Bureau published Wednesday shows that single-family and multifamily housing starts fell by 10.3% to a seasonally adjusted rate of 1.42 million units that month. Single-family

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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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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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