Photo taken lumber at Adams Lumber Company in Centennial, Colorado on Tuesday, May 4, 2021. (Photo by Hyoung Chang/MediaNews Group/The Denver Post via Getty Images) U.S.
homebuilders are poised to benefit this year amid strong demand, low mortgage rates and an all-time low inventory of previously occupied homes for sale.
But soaring lumber prices and a shortage of material could limit their ability to capitalize on the strong housing market trends."Historically bad.
They’ve [lumber prices] never been this high," CEO of the National Association of Home Builders Jerry Howard told FOX Television Stations Wednesday. "Right now, lumber prices are up over $1,400 per thousand or more feet."According to the association, lumber prices have tripled.