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High Demand For New Homes Fuels Surge in Lumber Prices

The price of lumber has shot up 110% since mid-April, according to a report from the National Association of Home Builders.

The construction of residential housing remains a strong point for the economy during the COVID-19 pandemic, but there’s a catch.

Rising demand has pushed up the cost of the lumber needed to build new homes, and framing lumber prices have increased more than 110% since mid-April, according to a new report from the National Association of Home Builders. Lumber prices dipped in the earliest days of the pandemic, but quickly recovered and then some.

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Karen Sloan

Karen Sloan

Karen Sloan is the Legal Education Editor and Senior Writer at ALM. Contact her at [email protected]. On Twitter: @KarenSloanNLJ Sign up for Ahead of the Curve—her weekly email update on trends and innovation in legal education—here: https://www.law.com/briefings/ahead-of-the-curve/

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