In January 2020, right before the pandemic started, 1,000 feet of lumber cost around $315. In January 2022, 1,000 feet of lumber cost around $1,200. This is a 400% increase in just two years. If a class A office property needs lumber for a tenant improvement, the lumber will cost 4 times as much as it did just 2 years ago. This type of increase is also passed on to all types of construction products that use lumber.

https://magazine.realtor/daily-news/2022/02/17/mortgage-amounts-break-record-again


You should also make sure you are ready to be a homebuyer. While it is advantageous to get a mortgage when rates are low, first ensure it makes sense for your budget and long-term financial goals. Rates will also vary by lender and other factors such as down payment and credit score.

Buyers viewed just eight homes before making their purchase

Three out of the eight homes were only viewed virtually

 

Today, homebuyers have more and more ways to view houses online. They can view high-resolution photos, view videos and go on virtual tours. The study found that among the eight homes viewed by buyers, three were viewed only online through virtual or video tours, or virtual open houses.

 

https://www.housingwire.com/articles/buyers-viewed-just-eight-homes-before-making-their-purchase/


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