Interested in one of our homes for sale in Altoona?
If so, you may want to act soon because the prices of our homes will go up in a few months.
Why Is the Price Going Up in the Middle of Pandemic / Recession?
It's supply and demand.
More accurately, it is low supply and high demand.
The Covid-19 epidemic has disrupted the lumber supply. Many lumber mills have closed or reduced their production due to Covid-19. Demand for lumber, however, has not decreased. Some say that more people are staying home and renovating their homes.
You will see that hardware stores are running out of lumber and/or increased their price as well. Other home builders will be increasing their prices. This will not only affect Eau Claire county, but the whole country.
How much is it going up?
We have not seen the official figures yet, but it can be as much as $3,000 - $6,000 for a house.
Our new 3bd homes in Altoona, WI are for sale between $60,000 to $65,000, so this increase is significant. For many people, this price increase may be a difference between qualifying for financing or not.
The homes we are ordering for end of this year and 2021 will have the new increased price.
The homes we current have in order were purchased with the old price.
When is it coming down?
We don't know. It will depend on lumber production, and will largely depend on how the epidemic pans. As everyone knows, there are a lot of uncertainties.
How does this affect me?
We want to avoid potential issues with the price increase:
- Paying thousands of dollars more for the same home
- Not being qualified for financing due to price increase