This is a YouTube video titled "Ep 70 🚨 It’s Not just Lumber Making New Home Prices Increase 🚨" containing a monologue or single-speaker discussion from September 2, 2021, analyzing the rising costs of building materials such as lumber and steel and their impact on new home prices.
Lumber catches the headlines. When we're talking about the price of new homes, it's not just about the price of lumber. Overall cost of goods on building a home were up 19% in the last 12 months. Then there was a study done showing year to date through the end of July. Generally that time period each year is a 1.1% increase in cost of goods. This year it's been 13% increase. And a really interesting study was done on the price of steel. So in the last 80 years, since they've been tracking that, there's only been three months where it's actually went up double digits in price gain. This year, specifically, has been four months of double digit price gain. So everything's escalated. And going back to the price of lumber, it's still up 7% since last January. So all of these are resulting in increased home prices.
