NAHB talks lumber prices with Commerce Secretary
Leadership from the National Association of Home Builders met with U.S. Commerce Secretary Wilbur Ross yesterday to discuss escalating lumber prices.
Along with a lack of supply, lumber prices have been a catalyst behind escalating home prices and potential home buyers being left on the sidelines.
“We discussed with Secretary Ross our mutual concern that lumber prices have risen sharply higher than the tariff rate would indicate, and that this is hurting housing affordability in markets across the nation,” NAHB Chairman Randy Noel said in statement issued by the association.
According to the NAHB, rising lumber prices have increased the price of an average single-family home by nearly $9,000 and added more than $3,000 to the price of the average multifamily unit.
“We applaud Secretary Ross for acknowledging the gravity of this situation and expressing a willingness to look into the possibility that factors other than the tariff may be manipulating the market,” Noel said.
Noel, also a home builder in LaPlace, La., said that the NAHB is encouraging the secretary to return to the negotiating table with Canada. “It is essential that the two sides resume talks and hammer out a long-term solution to this trade dispute that will ensure U.S. home builders have access to a stable supply of lumber at reasonable prices to keep housing affordable for hard-working American families.”
The NAHB recently applauded a letter sent to the White House, signed by more than 170 members of the House of Representatives, urging for softwood lumber talks to resume.
Along with a lack of supply, lumber prices have been a catalyst behind escalating home prices and potential home buyers being left on the sidelines.
“We discussed with Secretary Ross our mutual concern that lumber prices have risen sharply higher than the tariff rate would indicate, and that this is hurting housing affordability in markets across the nation,” NAHB Chairman Randy Noel said in statement issued by the association.
According to the NAHB, rising lumber prices have increased the price of an average single-family home by nearly $9,000 and added more than $3,000 to the price of the average multifamily unit.
“We applaud Secretary Ross for acknowledging the gravity of this situation and expressing a willingness to look into the possibility that factors other than the tariff may be manipulating the market,” Noel said.
Noel, also a home builder in LaPlace, La., said that the NAHB is encouraging the secretary to return to the negotiating table with Canada. “It is essential that the two sides resume talks and hammer out a long-term solution to this trade dispute that will ensure U.S. home builders have access to a stable supply of lumber at reasonable prices to keep housing affordable for hard-working American families.”
The NAHB recently applauded a letter sent to the White House, signed by more than 170 members of the House of Representatives, urging for softwood lumber talks to resume.