The latest data on U.S. home sales and house prices, released last week, underscored why softwood lumber prices keep going up in early 2021. Demand for new homes is reaching a fever pitch as realtors report runaway bidding, and the supply of homes for sales drops to dangerous levels. While still at four-months’ worth of supply, the availability of homes for sale keeps dropping as motivated buyers send house prices to new, lofty levels. There are indications that the U.S. real estate market is reaching a potential top; this ...
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