Lumber Prices Cause Builders to Add Escalation Clauses

Homebuyers are seeking to make their spaces their own but lumber prices are affecting homebuyers’ plans. Homeowners have made the shift into home renovations this year while new homebuyers are seeking land to build. With that comes some Lumber challenges.

Realtor Magazine sheds some light on some one of those concerns here: Realtor Magazine – Lumber Prices

“The rising and volatile costs of lumber continue to hamper the new-home and remodeling markets. Lumber prices nearly doubled over a four-month period in 2020 and have continued to reach new highs. The price and availability of building materials have been cited as one of the top challenges that homebuilders face at a time when the real estate industry is calling for more housing inventory to meet surging buyer demand.”

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