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Certainly, there will be an economic downturn at some point and material prices will moderate. With that said, I wouldn't look for too much of a drop in housing prices here as prices in this part of the country tend to drop less because of high demand due in part from well-heeled retirees and others moving in from areas in the northeast where prices are much higher.
No way it would cost $400 unless there is some type of difficulty building on your lot. I am planning on building a home in Asheville soon and it looks like an average home is about $150 sqft and higher ends around $200.
Certainly, there will be an economic downturn at some point and material prices will moderate. With that said, I wouldn't look for too much of a drop in housing prices here as prices in this part of the country tend to drop less because of high demand due in part from well-heeled retirees and others moving in from areas in the northeast where prices are much higher.
I helped a friend find a house in Hendersonville several years ago.
We were astounded at the prices and the fact that nearly everything decent was already under contract when it hit the listings.
Lumber costs dropped more than 40% in June. I doubt this will have a huge impact on construction prices in WNC as builders will likely be slow to pass this drop on to their clients.
Lumber costs dropped more than 40% in June. I doubt this will have a huge impact on construction prices in WNC as builders will likely be slow to pass this drop on to their clients.
The other thing is that the supplier needs to sell the lumber that they paid top dollar for before it can be passed onto the consumer. It's going to take some time. Hopefully sooner than late.
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