Photo: istockphoto.com The skyrocketing price of lumber has dominated headlines in the residential construction world over the past couple of years. However, the latest Producer Price Index (PPI) report shows that the price of softwood lumber fell 23 percent in June. And while that may be good news for anyone planning to build a new
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Home prices are soaring, pushed higher by a combination of record-low mortgage rates, strong demand from buyers and a lingering lack of new construction. In 2021, a new factor put pressure on home prices: Month after month, lumber prices jumped to new highs. Lumber costs soared more than 30 percent from January through May. However,
Housing starts rise 3.6% in May; April revised down Single-family starts increase 4.2%; multi-family up 2.4% Building permits fall 3.0%; single-family drop 1.6% Import prices increase 1.1%; up 11.3% year-on-year WASHINGTON, June 16 (Reuters) – U.S. homebuilding rebounded less than expected in May as very expensive lumber and shortages of other materials continued to constrain
PEORIA — High lumber prices are causing the cost of building a new home to grow in the Peoria area even as home construction numbers are rebounding, local homebuilders say. “New home prices have been affected by the lumber prices that are driving the prices higher,” said Scott Lewis of Scott Lewis Homes. “The increase of lumber has been
LOUISVILLE, Ky. (WDRB) – Mike Metzkes could sell a lot more new-construction houses – especially in the “entry level” market of $200,000 to $250,000. Demand isn’t his problem. Instead, surging lumber prices and the availability of skilled workers like construction managers leave the Louisville division of Arbor Homes and its local subsidiary Elites Homes throttling