Higher Lumber Prices Could Add $24K to Price of New Home

Just last month we saw a report about building materials surging 5.4% in 2020. In fact, in September alone softwood lumber soared by a record 29%! Now comes a report on HousingWire that says increased costs for lumber and other building materials could add $24k to the price of a new home. Citing data from the National Association of Home Builders (NAHB), they also point out that homebuilder confidence fell two points in March, despite sky-high buyer demand, rising home prices and climbing mortgage rates. Continue reading HERE...