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Lumber prices added over $14000 to the new single-family prices

Posted on July 18, 2022   |  

  • Volatile lumber prices have greatly influenced home prices and rent as since the pandemic lockdowns began in 2020, softwood lumber prices added $14,345 to the price of a new single-family home and $5,511 to the market value of an average new multifamily home.
  • The average new single-family home uses over 2,200 square feet of softwood plywood, and over 6,800 of OSB, along with 15,000 board feet of framing lumber.
  • On April 17, 2020, the total cost to a builder for softwood lumber was $16,927 for the products in an average single-family home and $5,940 for the average multifamily home.
  • On July 01, 2022, in an average single-family home, costs grew by 74% to $29,407 for the softwood lumber products, and in an average multifamily home, prices grew by 81% to $10,734.