Trade
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.
Lumber Prices on the Rise – Again
After drifting lower from mid-September to mid-November, lumber prices are on the rise again. Prices have been moving upward for the past three weeks, and now stand slightly above $600 per thousand board feet.
Commerce Department Cuts Lumber Tariffs from 20% to 9%
With lumber prices experiencing extreme price volatility this year and harming housing affordability, a final determination of the first administrative review by the U.S. Commerce Department to reduce duties on shipments of Canadian lumber into the United States by more than half is good news for American home builders and home buyers.
Working Closely with NAHB, Nearly 100 Lawmakers Urge Trump to Act on Lumber
Working in tandem with NAHB, nearly 100 Republican and Democratic lawmakers on Oct. 20 sent a letter to President Trump seeking urgent action on lumber supply shortages that have resulted in unprecedented price spikes in recent months that are threatening the housing industry and economic recovery.
Lumber Prices Trending Downward from Mid-September Peak but Still High
Framing lumber prices peaked above $950 per thousand board feet in mid-September, according to Random Lengths, and have been on a slow, downward trajectory since then. For the week ending Oct. 16, prices stood above $750 per thousand board feet, down nearly $200 since their all-time high last month.
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.
National Economic Council Hears NAHB Concerns on Lumber
In a special webcast for association leaders and now available to members on NAHB efforts to combat rising lumber prices and supply shortages, NAHB Chairman Chuck Fowke said that Senior Officers held talks with members of the White House National Economic Council (NEC) on Aug. 28 to discuss the impact that soaring lumber prices are having on the housing industry.
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.
WTO Finds in Canada’s Favor in Softwood Lumber Dispute
According to a World Trade Organization (WTO) dispute settlement ruling issued today, the United States inappropriately applied countervailing duties on Canadian softwood lumber. The WTO report came in response to Canada’s challenge of the U.S. Commerce Department’s imposition of countervailing duties on Canadian softwood lumber in 2017, after the countries failed to reach a new agreement on softwood lumber.
