While having some work done on my house, it inspired me to dig even deeper into what builders and consumers are currently facing with incredibly high lumber prices.
An executive in the lumber industry told CNBC they are advising their customers to actually hold off on projects in anticipation of some relief in prices in the next 6 to 12 months, although even in the next year or so prices will be well above what builders were paying pre-covid. The reason is simple - demand. People are taking on home projects, and there are many more of them due to the rush of homeowners flocking from cities to the suburbs. According to a report from CBS news, "Framing lumber was priced at $1200 per thousand board feet as of late April, a 250% increase from a year ago when the price was $350.00". Wow! That was from an analysis from the National Association of Home Builders. For house hunters, that adds an average of $36,000 nationally to the price of a home. Of course, the larger homes in our area would see an even higher increase.
Couple that with the tough time contractors are having in finding construction crews, and you get a delay in existing projects as well as a decrease in new home starts. Buyers are somewhat impatient now and want to move immediately, so they aren't happy with a timeline that has them waiting months for their new home. Yet interestingly enough, we have set some mid-fall deadlines for our listings and the market has responded well. Buyers are willing to endure short-term discomfort for long-term gain. Such a valuable investment, like a home for you and your family, is worth the wait!
Last weekend my daughter Allie graduated from a program housed at Medway High School. Medway is a wonderful town, and it was a warm and impressive graduation. The superintendent spoke about how during the pandemic he was afraid to open parent emails, because as you can imagine, everyone had something to say. However, one couple sent a note thanking him for his hard work and offered him gratitude. That one surprise email motivated him to move forward. It was a heartwarming message and just a quick reminder to pause once in a while and thank the people who come together to create our "village". Well done! 
Stay tuned for new listings we have coming up, and stay cool...summer is almost here!!
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