state Colorado pandemic Coronavirus state Colorado

‘Historically’ high lumber prices adding more than $35K on average to new home price tag

Reading now: 714
www.fox29.com

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.

Read more on fox29.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA