At Home with Eastbrook Homes – Market Update

The housing market has gone through some radical changes over the last few years. With building and material costs fluctuating dramatically, the market has been prone to frequent changes in pricing and availability.

However, lumber prices have recently begun to drop, so this week on At Home with Eastbrook Homes, host Eric Hultgren and Eastbrook Vice President of Sales and Marketing, Josh McGraw, discuss the impact that those price changes have had on new construction and the housing market.

Click the link below if you would like to watch the interview.

Lumber Prices

As Josh McGraw mentions, lumber prices are coming down, but the price is still higher than the average just a few years ago. Lumber is just one piece of the puzzle and lots of other building materials are either high or still increasing.

In the video below, Josh discusses the pricing and availability of items such as shingles, siding, decking, cabinets, and more. Metal and petroleum-based products are also on the rise. Even the hidden components that go into new home construction, such as joist hangars, rebar, are increasing in cost and affect the overall price of the home.

Josh also talks about the future of the market and whether it’s best to wait or buy now. Housing prices will hopefully level off, but they are not expected to come down. But, with interest rates still hovering at incredible lows, it is still a great time to buy a new home.

Buy or Build

It can also be easier to build a new home than to purchase preexisting homes. With buyers getting into bidding wars and homes being snapped up as soon as they hit the market, purchasing a home can be a long and difficult process.

The market may have found a new level for housing prices, but the Eastbrook Homes motto is More Home for your Money and, as Josh mentions, our goal has always been to deliver the best value for your investment.

By building, you maintain more control over the finished product, with the ability to choose the colors, styles, textures, and materials you really want in your new home.

There’s No Need to Compromise

There’s no need to compromise, you can design and build the home of your dreams, whether that’s a single-family home on the lakeshore or a condo on one of West Michigan’s best golf courses.

To learn more about the value we can bring to your new home construction, please reach out to our team of expert sales agents, and let’s get the conversation started!