In the slideshow below, there are two separate quotes for lumber: One from April 2021, one from May 2020. Notice the difference in the cost of a standard 2x4 stud. This is a fraction of the total lumber package for a new home in North Carolina with a sales price in the $300s. Lumber production must increase.
As we all know, Lumber Prices have been on the rise for a while now, with no decline in price in sight. This not only affects the building industry directly, but, it also affects home buyers and homeowners looking to remodel.
A lumber industry veteran told CNBC on Thursday he expects the hot lumber market to persist, at least for a few more months, keeping both prices and volatility elevated.
NAHB - As lumber prices remain sky high, home-building activities continue to suffer across all aspects of the industry — including remodeling projects. Home owners have had an opportunity while sheltering in place to examine their homes and identify key areas in need of repair. But many have been apprehensive to tackle these projects because of the uncertain costs and availability of project materials.
March 7-13, 2021 is National Women in Construction Week. This week, we celebrate women from all across the building industry workforce.
Women are currently outnumbered in the construction workforce 10 to 1, making it a male-dominated industry.
National Women in Construction Week is in place to honor these hard-working women and to emphasize the growing role of women in the building industry.
The Wall Street Journal: Lumber prices have shot to fresh records, defying the normal winter slowdown in wood-product sales in a sign that the pandemic building boom is bowling into 2021.
From NAHB: It is with deep regret we announce that the technology issues pertaining to the IBSx exhibitor platform could not be resolved. The situation evolved rapidly and rectifying these challenges proved more complex than anticipated. As a result, the show floor featuring IBSx exhibitor booths will not be moving forward as planned this week, but will be postponed to a later date. We are investigating alternative solutions to allow the exhibit experience and virtual booths to open in the near future.
Due to ongoing technical issues with the KBIS Virtual and IBSx platform, access to all exhibitor booths within the IBSx Expo Hall is inaccessible. NAHB is investigating alternative solutions that may allow the Expo Hall to open in the future.
IBSx show programming including the General Sessions, Gamechangers, the Sales Rally, the Demo Zones and Shop Talks will continue as scheduled, February 10-12, 2021.
Be sure to look for updated links to participate in planned IBSx education programming.
NAHB - Builder confidence in the single-family 55+ housing market remained high in the fourth quarter, inching down one point from an all-time high to 82, according to the National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI) released today.
There are two 55+ HMIs measuring distinct segments of the 55+ housing market: single-family homes and multifamily condominiums. Each 55+ HMI measures builder sentiment based on a survey that asks if current sales, prospective buyer traffic and anticipated six-month sales for that market are good, fair or poor (high, average or low for traffic).
NAHB - In the wake of the COVID-19 pandemic, more Americans are interested in purchasing homes, according to NAHB’s latest Housing Trends Report.
The share of Americans who are considering the purchase of a home in the next 12 months was 15% in the fourth quarter of 2020, four percentage points higher than a year earlier and the largest year-over-year gain in the three-year history of this series. The gain shows the coronavirus outbreak continues to impact Americans’ propensity to want to buy homes.
NAHB Now - The Centers for Disease Control and Prevention has announced it is extending the current order temporarily halting residential evictions until at least March 31, 2021.
In a press release announcing the action, CDC Director Rochelle Walensky said: “As a protective public health measure, I will extend the current order temporarily halting residential evictions until at least March 31, 2021. The COVID-19 pandemic has presented a historic threat to our nation’s health. It has also triggered a housing affordability crisis that disproportionately affects some communities.
The Washington Post | Kathy Orton - A bright spot in an otherwise dreary 2020 was the residential real estate market. After briefly retrenching at the beginning of the pandemic, home sales soared. A lack of homes on the market and low mortgage rates caused prices to skyrocket. Rising prices lifted home values, creating more wealth for homeowners.
But not everything was rosy. As of this month, 5.2 percent of mortgages, or 2.7 million, are in forbearance, according to Black Knight, a mortgage data and technology company. That represents $547 billion in unpaid principal.