An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How Freddie Mac is addressing affordable housing challenges

Freddie Mac is focused on addressing limited access to credit, housing inequalities, creation and preservation of affordable housing supply and advancement of homeownership education.

A NAR board member tells (almost) all

For this week’s Houses in Motion, a miniseries that is part of HousingWire Daily, we spoke with Lisa Dunn about the pressing issues in real estate, including disclosure of agent commission.

Real Estate

Lumber prices are falling, but builders still feel the pinch

"Prolonged" price drop is needed for builders, buyers to see a difference

HW-home-sales

After a tumultuous year for lumber prices and the homebuilding industry, a light has finally emerged at the end of the tunnel. But builders aren’t out of the woods quite yet.

Lumber prices, a source of builder and construction company angst for approximately 15 months, are officially falling, as the price that sawmills charge distributors for cut lumber is down for the eighth consecutive week.

Digging into the numbers, the cash market price for lumber fell to $485 per thousand board feet for the week ending July 23 — a $90 fall in one week, and down nearly 70% from an all-time high of $1,670.50 in May. Futures ended at $521.40 per thousand board feet by Wednesday of this week, and currently sit around $600 per thousand board feet.

In June alone, lumber futures fell more than 40%, according to the National Association of Homebuilders.

And prices could be even lower if not for wildfires in British Columbia and the subsequent closing of sawmills at Canfor, North America’s second-largest lumber producer.

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