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Surging lumber prices add significant costs to new home construction FOX 26 Reporter Tom Zizka explains why prices are surging causing other issues for home builders. HOUSTON - New home sales continue to surge, across the country. In March, the Commerce Department reported activity increased more than 20%. The cost of buying a home is going way up, as well, as demand and the lingering effects of the pandemic are leaving an expensive shortage of supplies. In Houston s Acres Homes neighborhood, builder Johnny Hollins is happy to get construction started on a development that will include more than 60 new homes. Unfortunately, Hollins hope that he could offer affordable housing is no longer the case. ....
0 1 7 minutes read Welcome to the WHAT THE TRUCK?!? newsletter. In this issue, skyrocketing lumber prices, where’s the Tesla Semi, two brokerage bankruptcies and more. Will it fall under $3? SONAR Downhill skiing in spring The Truckstop.com seven-day dry van rate per mile continues its three-plus-weeklong slide, falling another 4 cents to $3.04. Although rates are declining, both freight volumes and capacity have remained stable. According to the Outbound Tender Reject Index in SONAR, carriers are still rejecting more than 1 in 4 loads. “Spot rates were roughly 30% to 70% higher year-over-year throughout the first quarter. Rates are 80% higher in the latest week.” FreightWaves’ Human capital With drivers still in short supply, carriers are having to increase wages by as much as 20% in some cases to help fill the seats. According to TCA data, insurance costs as a percentage of revenue jumped 16% in the first two months of ’21. Some analy ....
Lumber prices drive up new home prices Updated: Tags: HOUSTON – Homebuyers, builders, and even DIYers are shocked and stuck with crazy-high lumber prices. The price of lumber has increased about 180% since last year. Some consumers received the bad news after their new homes were already under construction. The builder told them they wouldn’t be able to honor the original sales price they agreed on because lumber prices have gone up so much. This is impacting anyone who needs wood for anything from a new fence or deck to a house. “The homes that we’re building now are from the 300s to the 350s,” said Johnny Hollins of JG Hollins Builders. “Last year, before we started the development, we were gonna sell those houses for around $275,000 to $290,000.” ....