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Soaring Lumber Prices: What Residential Investors Should Know

·5 min read

Building new homes to meet the intense demand for single-family homes that has driven prices to record highs and supply to record lows during the pandemic promises to get more expensive. The National Association of Home Builders (NAHB), meanwhile, says that soaring lumber prices have in a single year added an estimated $35,872 to the average price for a newly built single-family home and $12,966 to the average unit price for multifamily construction.