Skyrocketing lumber prices are causing housing prices to soar as well, only worsening housing affordability issues that had prevalent across the U.S. for years. The National Association of Home Builders (NAHB) says rising supply costs are being exacerbated by the uncertainty of when supplies will come available to complete homes in a timely manner. Additionally, there are concerns about whether or not finished homes will appraise at the correct price to reflect rising costs on the supply side. Market uncertainty is also extending to the financial positions of prospective homeowners, in many cases making buyers more apprehensive or less flexible about moving forward with higher costs.
The NAHB is asking for stories about how rising lumber prices, and the limited availability of lumber, are impacting businesses as part of its lobbying effort with Congress. Stories can be shared by following this link.
