Housing affordability has been a critical issue across the country for years, as factors such as a shortage of lots and labor have led to a limited supply. As lumber prices once again approach all-time highs amid a supply shortage, this crisis only gets worse, as housing prices continue to soar and builders face challenges to meet ongoing…
Lumber prices have skyrocketed more than 180% since last spring, and this price spike has caused the price of an average new single-family home to increase by $24,386 since April 17, 2020, according to NAHB standard estimates of lumber used to build the average home. Similarly, the market value of the average new multifamily home…
After declining for four years, a number of key trends — including the average size of the home and the number of bedrooms and bathrooms — reversed course in 2020 as a result of shifting buyer preferences in the wake of COVID-19. https://nahbnow.com/