Sky-high lumber cost contributing to inventory plummet in the Lehigh Valley, realtors group says
Updated 8:51 AM;
Today 7:00 AM
Evergreen Lumber and Truss employees Charles Layhew, left, and Jeremy Foust install sheathing on top of prefabricated roof trusses and wall panels at an amenities building under construction in the new Longleaf Gates subdivision Thursday, May 7, 2009, in Mobile, Ala. (Press-Register, Mike Kittrell)
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Lumber’s record-setting prices are limiting some new construction projects and leading to a continued drop in inventory across the Lehigh Valley, area real estate agents say.
Data collected in March by the Greater Lehigh Valley Realtors, which tracks properties across Northampton County, Lehigh County and Carbon County, showed normal spring increases in sales activity coupled with the easing of COVID-19 guidelines, which created a bustling real estate market. Buyer demand continued largely unabated despite rising home prices and mortgage
Winter homebuyers see intense demand, sellers gaining lightning speed sales, Lehigh Valley real estate agents say
Updated Jan 18, 2021;
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Winter home buying is expected to bring on more intense bidding wars as inventory levels continue to drop across the regional housing market, folks quarantining seek greater amenities, and mortgage rates hit near-record lows, Lehigh Valley real estate agents say.
For sellers, properties last month began selling at an average of just 19 days. It’s been an unusually active winter season. Sales typically start slowing down by mid-November, but this hasn’t been a typical season given the ongoing pandemic.