Lumber shortage spurs new spike in home prices



Jeff Ostrowski | Bankrate

Home prices soared in 2020, a year when property values were pushed up by a combination of record-low mortgage rates, strong demand from buyers and a lingering lack of new construction.

For 2021, add another wrinkle: Lumber prices have jumped to new highs. Lumber costs soared more than 30 percent this year, and they’ve nearly tripled since last spring’s deep downturn in economic activity.

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