Rising lumber costs at $36K to home building costs

The pandemic forced lumber providers and suppliers to prepare for a construction freeze, but the subsequent torrent of activity after a brief pause surpassed expectations and left the building industry with much more demand than it could handle, and prices have risen accordingly, an estimated additional $36,000 cost for building a single-family home. Constructing new homes is one of the most direct ways the industry can balance the current strong sellers’ market, but this relief valve is hampered at the moment.