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What’s Behind the Surge in Lumber Prices? Paradoxical Reaction to Jobs Report

What’s Behind the Surge in Lumber Prices? Paradoxical Reaction to Jobs Report

In a recent post on the National Association of Home Builder's (NAHB's) Eye on Housing blog, chief economist Paul Emrath said rising softwood lumber prices have added $35,872 to the price of an average new single-family home , and $12,966 to the market value of an average new multifamily home. The price increases affect any softwood used in structural framing, sheathing, flooring and underlayment, interior wall and ceiling finishing, cabinets, doors, windows, roofing, siding, soffit and fascia, and exterior features such as garages, porches, decks, railing, fences, and landscape walls. Products include not just dimensional lumber, by plywood, OSB, particle and fiberboard, shakes and shingles. Emrath quotes prices from data tracker Random Lengths that, as of April 17, 2020, the total cost to
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