Tag: lumber prices
Lumber Prices Continue to Price Home Owners — and Builders — Out of the Market
Lumber prices increased 14.9% in August, marking historical gains. Such a sharp increase has put unnecessary pressure on home owners and builders alike to figure out how to close the gap — and potentially not build at all.
Escalating Lumber Prices Hamper Home Owner Dreams
Lumber prices have skyrocketed since mid-April, rising 130% and increasing the cost of a single-family home by more than $16,000. NAHB continues to advocate for solutions, but they may not come fast enough for prospective home owners who now find themselves scrambling for alternatives as a result of these skyrocketing prices.
NAHB Podcast: Skyrocketing Lumber Prices Must Be Addressed Now
On the latest episode of Housing Developments, NAHB CEO Jerry Howard provides an analysis of how the housing industry is leading the nation’s economic recovery. However, Howard stresses that the recent dramatic increase in lumber prices threatens the industry and economy on the whole.
Average New Home Price Now $16,000 Higher Due to Lumber
The recent spike in softwood lumber prices has caused the price of an average new single-family home to increase by $16,148 since April 17, according to NAHB standard estimates of lumber used to build the average home. Similarly, the market value of the average new multifamily home has increased by $6,107 over the same period due to the surge in lumber prices.
Surge in Home Construction, Lumber Prices
Residential construction is leading the economy, as housing demand remains strong and supply is tight. However, risks remain for the industry, especially regarding the quickly escalating prices for lumber.
NAHB Seeks White House Action on Soaring Lumber Prices
NAHB sent a letter to President Trump expressing the housing industry’s growing concern and seeking prompt action regarding soaring lumber prices and supply shortages that are harming the housing sector and the economy.
A Housing Upturn as Concerns Grow for Lumber, Material Costs
The remarkably strong data for home construction has continued in recent weeks. However, for builders, access issues and delivery delays for building materials are increasingly yielding higher prices.
Lumber Prices Hit 2-Year High, Up 50% Since April
The Random Lengths Framing Composite Price rose above $500 per 1,000 board feet for the week ending July 10, marking the first time prices have topped the $500 level since July 2018. Indeed, lumber prices have soared 50% since April 17, 2020.
Lumber Prices Move Sharply Higher on Rising Demand and Supply Constraints
Rising demand stemming from a surge of do-it-yourself projects from consumers working at home coupled with restricted supply due to lumber mills operating at a diminished capacity have led to a recent upsurge in lumber prices. Prices topped $400 per thousand board feet in mid-May.
