NAHB Urges Lawmakers to Address Housing Affordability

As the National Association of Home Builders (NAHB) celebrates National Homeownership Month in June, builders are urging lawmakers to implement policies that will help address housing affordability, calling for a resolution on supply chain disruptions and the ending of Canadian lumber tariffs.

Building materials prices are up 19.2% year-over-year and have risen 35.6% since the start of the pandemic, according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. In addition, tariffs on Canadian lumber shipments into the U.S. and production bottlenecks have fueled lumber price volatility which has added more than $18,600 to the price of a new home since last August.