Since 2019, we have seen the price of lumber rise rapidly. If you're in the market to buy or build a new home, this is something that you have noticed and heard about. However, the lumber pricing has recently seen a drop in prices as well.
While this sounds like great news, it is only a small drop. This is because while prices are down, they are still higher than normal, they're about 80% higher than pre-pandemic levels. This can create a problem for critical housing but also clients like ours who are building their dream home.
Since 2020, construction of a single-family home has risen by 12%. It may not seem like a lot but if you are in the market to build a new home, this is significant!
When you factor in the rise in construction costs and the fact that the lumber supply is still low, you may think that it isn't a good time to build your dream home.
But it is!
Interest rates are still lower than we've ever seen, so it is a good time to lock in mortgage rates and your pricing with Lindal and the planning of a custom home isn't done overnight.
You can start planning your dream home today!
Building Your Legacy