Lumber Demand Creates Housing Price Increases In Central Oregon

BEND, Ore. (AP) – Housing prices in central Oregon have increased due in part to the growing price of lumber.

The Bend Bulletin reports average home prices in Bend are up 5.7% to about $475,000 compared to this time last year.

In Redmond, the average price of homes has increased 6.3% to about $340,000.

Demand for lumber increased substantially after widespread stay-at-home orders implemented as a result of the coronavirus pandemic have increased the number of home projects.

Lumber is one of the key components of home building.

The price has more than doubled this year, which has added tens of thousands of dollars to the average costs of houses.