Material Costs

How Rising Lumber Prices Impact More Than Just Home Builders

How Rising Lumber Prices Impact More Than Just Home Builders

The fast price escalation in lumber is having far-reaching consequences throughout the industry, and prohibiting home builders and partner organizations from providing much-needed housing to families across the country.

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Video: NAHB Chairman Updates Members on Rising Lumber Prices

Filed in Advocacy, Material Costs, Membership by on March 1, 2021 5 Comments
Video: NAHB Chairman Updates Members on Rising Lumber Prices

In this month’s Chairman’s Update, 2021 NAHB Chairman of the Board Chuck Fowke discusses the latest developments in the evolving lumber crisis and the measures NAHB is taking to address the associated issues.

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Podcast: An Inside Look at Appraisals and Rising Lumber Prices

Filed in Advocacy, Material Costs by on February 25, 2021 1 Comment
Podcast: An Inside Look at Appraisals and Rising Lumber Prices

On the latest episode of the Housing Developments podcast, NAHB CEO Jerry Howard and Chief Lobbyist Jim Tobin have a candid discussion with Scott Reuter, chief appraiser and head of valuation at Freddie Mac, and Kurt Dinnes, founder of Sun Custom Homes in Oklahoma City, on the appraisal process during this time of skyrocketing lumber prices.

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Can High-Performance Building Strategies Decrease Lumber Demand?

Can High-Performance Building Strategies Decrease Lumber Demand?

Solving the lumber crisis is a critical priority for NAHB, particularly because of housing affordability implications. Potential solutions that use high-performance building strategies can reduce the amount of lumber needed to build a home and reduce the demand on the timber industry.

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What Builders Should Know About Appraisals and Lumber Prices

Filed in Advocacy, Material Costs by on February 23, 2021 15 Comments
What Builders Should Know About Appraisals and Lumber Prices

As builders struggle with front-end issues, such as rising lumber prices and material shortages, they are also experiencing additional challenges on the backend, as appraisal standards make it difficult to recognize the full impact of sharp increases in the cost of building materials. Here are some tips to have your appraisal better reflect your actual building costs.

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Record-High Lumber Prices Add $24K to the Price of a New Home

Filed in Advocacy, Material Costs by on February 22, 2021 41 Comments
Record-High Lumber Prices Add $24K to the Price of a New Home

Lumber prices have skyrocketed more than 180% since last spring, and this price spike has caused the price of an average new single-family home to increase by $24,386 since April 17, 2020, 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 $8,998 over the same period due to the surge in lumber prices.

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Rising Lumber Prices and Lack of Supply Threaten Consumers’ Housing Options

Filed in Advocacy, Housing Affordability, Material Costs by on February 16, 2021 7 Comments
Rising Lumber Prices and Lack of Supply Threaten Consumers’ Housing Options

Housing affordability has been a critical issue across the country for years, as factors such as a shortage of lots and labor have led to a limited supply. As lumber prices once again approach all-time highs amid a supply shortage, this crisis only gets worse, as housing prices continue to soar and builders face challenges to meet ongoing housing demands.

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Record-High Lumber Prices are Hammering Housing Affordability

Filed in Advocacy, Housing Affordability, Material Costs by on February 12, 2021 28 Comments
Record-High Lumber Prices are Hammering Housing Affordability

Soaring lumber prices are adding thousands of dollars to the cost of a new home, pricing out millions of potential home buyers and impeding the residential construction sector from moving the economy forward, according to NAHB.

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Biden’s Broad Stimulus Package Will Help Housing

Biden’s Broad Stimulus Package Will Help Housing

While NAHB supports bipartisan efforts to to reach an agreement on a coronavirus relief package, the association believes President Biden’s $1.9 trillion plan offers a better path forward to boost the housing sector and economy than the $618 billion Republican alternative put forth by 10 U.S. senators. The White House has also expressed a willingness to continue talks with NAHB regarding lumber price and supply issues.

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2 Critical Threats to Housing Affordability in 2021

Filed in Economics, Housing Affordability, Material Costs by on January 8, 2021 4 Comments
2 Critical Threats to Housing Affordability in 2021

Housing demand remains robust and inventories are lean. However, home price growth and rising construction costs threaten housing affordability heading into 2021.

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