Lumber prices continue to rise, adding to housing costs

Green Escrow | New construction, housing

The National Association of Home Builders (NAHB) reports that lumber prices continue to rise, having increased by more than 170 percent in the last 10 months. Analysts say that the main reason behind the continuing rising cost is tariffs on Canadian lumber shipments.

Not only have the prices for home construction continue to rise, but many builders are putting projects on hold. Estimates are that the increase in lumber prices assed $16,000 to the price of a new home, with that number only continuing to increase.