Rising Lumber Costs, Low Inventory Depress U.S. New Home Sales; Fuel Significant Price Increases
May 26, 2021WASHINGTON—Rising building materials costs and low inventory have caused new home sales prices to jump 20% on a year-over-year basis, harming housing affordability and driving down the pace of new home sales, the National Association of Home Builders reported on May 25. Sales of newly built, single-family homes fell 5.9% in April, following a significant…
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