How Rising Lumber Prices Have Pushed up Home Insurance Premiums

The price of lumber has drastically increased amidst the unexpected surge in demand for single-family housing, coupled with the short supply of construction materials. Softwood lumber prices soared 112% compared to the previous year and increased by 10% in the first week of February 2021. According to the U.S Census, about 90% of completed single-family […]

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