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When Will Lumber Woes End, Average Remodel Costs, and Our Monthly Market Recap

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Rates Rising but Still a Seller’s Market

February marks the first month of a slowdown in sales in the housing market. Record low inventory continues to be the critical challenge — no surprise for those who’ve been following the market. While existing home sales fell in February after two months of gains, sales remain 9.1% higher than last year. Check out this month’s housing market recap for a roundup of the latest housing numbers and our in-depth analysis.

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Lumber Prices Are Up a Staggering 188% — When Will the Wood Shortage End?

That is the question plaguing homebuilders and investors alike. To get an answer, Fortune turned to Dustin Jalbert, senior economist at Fastmarkets RISI and industry expert on wood prices. Read on to see when he thinks we might finally get some relief.

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Five Ways the Housing Market Will Change After the Pandemic

Will home values continue their meteoric ascent? When will more listings relieve the inventory squeeze? What’s in store for the condo market? What’s next for the suburbs? And what does this all mean for rent rates (especially short-term rentals)? Redfin’s chief economist Daryl Fairweather predicts the big changes we’ll see on the other side of the pandemic.

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How Did Remodeling Prices Change in 2020?

HomeAdvisor relaunched their True Cost Report in order to provide more insight on the cost of common projects and how prices changed amid the COVID-19 pandemic. Check out the report for the typical cost for everything from interior painting to bathroom and kitchen remodels to installing a deck or porch, and more. 

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Why the Most Affordable Homes are Gaining Value the Fastest

“In a majority of U.S. metro areas, homes in the entry-level segment of the market most likely to be sought by first-time and/or lower-income home buyers have also grown the most in value over the past year,” reports Zillow. Tight inventory and demographic forces combine to make this lower segment lightning hot in a generally hot market.

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How Investors Should Prepare for Millennial Homebuyers

After a year of change brought on by the pandemic, Millennials are eager to purchase homes of their own. The folks at the Think Realty blog took a look at a recent survey of millennial homebuyers to learn about this important segment and came up with a few key strategies for real estate investors.

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