Lumber Prices Soaring Again
The National Association of Home Builders (NAHB) says that, after a few months of moderating lumber prices following the a rapid runup in early spring, those prices are soaring again . In a recent post on its NOW blog, the association says this is again disrupting the housing market and impacting affordability.
According to the post, lumber prices have nearly tripled over the past four months, causing the price of an average new single-family home to increase by more than $18,600. The increases have also added nearly $7,300 to the market value of the average new multifamily home. This translates into a $67 per month bump in rent for a new apartment.
NAHB quotes Random Lengths’ report that, as of Dec. 29, the price of framing lumber topped $1,000 per thousand board feet. Thi
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