NAHB: Lumber Shortages and Prices Hampering Affordability

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Posted To: MND NewsWire

In back-to-back blog posts in the National Association of Home Builder’s (NAHB’s) Eye on Housing Blog , Paul Emrath details both the extent of the current shortage of lumber facing homebuilders and its impact on home prices. Emrath says that shortages of framing lumber are now more widespread than at any time since NAHB began consistently tracking it in1994 and that a large majority of builders seeing lumber prices specifically affecting affordability. Emrath’s conclusions grow out of results from special questions included in the April and May NAHB/Wells Fargo Housing Market Index surveys. Over 30 percent of single-family builders responding to the May survey’s special questions reported a shortage of framing lumber , far more than reported shortages in any of the other 22 building products…(read more)

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