Gold Supporting Member
- May 2, 2002
- Professional Status
- Certified General Appraiser
Interesting statement from
Soaring lumber prices add $36,000 to the cost of a new home, and a fierce land grab is only making it worse
As the housing market gets leaner, potential buyers are turning in greater numbers than ever to new construction, but builder costs are soaring.
The surge in lumber prices in the past year has 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, according to the NAHB.
Recognizing they reference SFR vs MFH ... does it still imply the MV is not matching the cost? Is this creating pressure between cost of a new home vs buying a not so new one.