The cost of new home builds increased by over $16,000 due to lumber! Low interest rates, low inventory and out of state residence are some of the reasons for home increase but did you know lumber played a significant role as well? Lumber has increased by over 116% since last year for two main reasons. First due to the pandemic, homeowners were using their money to upgrade their homes instead of taking trips and vacations and second mill operators and lumber dealers misread the 2020 housing market. If you haven’t noticed appliances and furniture prices has also increased because of the wooden pallets used to transport them.
