Here’s how lumber prices are affecting our Michigan housing market.
It’s no secret that our real estate market is crazy right now, but there’s one thing that’s causing things to get even more hectic: lumber prices. The skyrocketing cost of building materials is heavily impacting home prices and affecting Michigan buyers and sellers alike. Fortunately, there are still some ways to navigate this market and combat the effects of rising lumber prices.
For your convenience, I’ve included timestamps for today’s video topic. Feel free to navigate to the section(s) you’re most interested in viewing:
(00:38) — Introduction to today’s video and how you can receive a $16,000 gift from us
(01:18) — Lumber prices skyrocketed after COVID-19 began
(02:02) — What do high lumber costs mean for our Michigan market?
(03:04) — Lumber supplies are increasing
(04:13) — More home inventory may be coming onto the market
(04:38) — How to redeem your $16,000 gift
(05:42) — Homebuyers must be qualified to receive the gift
(06:20) — We shouldn’t expect interest rates to rise until 2023
(06:51) — Home prices have risen, but interest rates keep things affordable
(08:00) — Summarizing today’s topic
(09:00) — Information about starting a real estate career
If you have any questions about buying or selling in today’s market, or if you’d simply like more information about what to expect, feel free to reach out to us. We look forward to hearing from you soon.
