Lumber prices and what they mean for homebuyers
When you’re planning on building a custom home with a homebuilder like Wayne, there are a lot of things that need to be discussed — so many, in fact, that it can feel overwhelming at times. Paint, floorplans, land, permitting – we won’t pretend it’s the easiest process in the world (though it’s definitely a worthwhile one).
When you work with a builder like Wayne, we do our best to keep the process smooth and efficient while also keeping our families informed. Lumber prices isn’t something you might consider immediately when you’re thinking about building a home with Wayne, but they are an integral part of the financial planning of your new home, and because of that, we wanted to take some time today to discuss what’s happening in lumber prices now, and what that means to you as a future homebuyer.
Builders here in the USA rely on the US-Canadian lumber trade in many ways. Recently, the U.S. Department of Commerce announced duties of up to 24 percent to be imposed on shipments of lumber from Canada, an action taken at the behest of the U.S. Lumber Coalition.
To manage this change, the the National Association of Homebuilders is seeking higher targets for timber sales from publicly-owned lands, and opening up federal forests for logging. They’re also bringing attention to the fact that American lumber producers cannot produce enough lumber to meet the nation’s needs . The NAHB remains committed to working with the Canadian industry and government to help them negotiate a new lumber agreement, but the likelihood is that lumber prices will rise.
Lastly, the NAHB is looking to new markets for lumber opportunities, and is working on how to leverage its members’ buying power in the market — such as by creating a co-operative.
Unfortunately, the situation currently means homebuilders and consumers will likely face increased costs for lumber as we navigate this new landscape.
We at Wayne remain committed to providing the highest quality materials at the most reasonable, feasible cost possible. While we navigate these updates and changes, we remain hopeful that our industry will find thoughtful, safe solutions to ensure our customers can achieve their dream of building their own custom home.
Have a question about how these changes could impact your future home? Give us a call.
About Wayne Homes
Wayne Homes is a custom homebuilder in Ohio, Pennsylvania, Indiana, Michigan, and West Virginia (see all Model Home Centers). We offer more than 40 fully customizable floorplans and a team dedicated to providing the best experience in the home building industry. For more information, Ask Julie by Live Chat or call us at (866) 253-6807.
