Real Estate

Lumber prices soar 275% in the pandemic, shutting out homebuilders

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CNBC.com’s MacKenzie Sigalos brings you the day’s top business news headlines. On today’s show, Diana Olick breaks down how lumber costs are weighing on homebuilders’ confidence levels. Plus, CNBC.com’s Natalie Zhang explains why teens are benefiting from widespread job openings and higher wages. Also on today’s show.

Homebuilder sentiment drops to 10-month low, as construction costs drive prices higher

Builder sentiment in June fell to its lowest level since August, as construction costs pushed new home prices higher, sidelining buyers and making it harder for some builders to get loans.

The National Association of Home Builders/Wells Fargo Housing Market Index dropped 2 points to 81, down…



Source cnbc.com

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