{"id":817,"date":"2021-05-14T21:23:52","date_gmt":"2021-05-14T21:23:52","guid":{"rendered":"https:\/\/blog.ark7.com\/?p=817"},"modified":"2023-05-18T01:16:35","modified_gmt":"2023-05-18T01:16:35","slug":"raw-material-prices-skyrocket","status":"publish","type":"post","link":"https:\/\/ark7.com\/blog\/articles\/raw-material-prices-skyrocket\/","title":{"rendered":"Raw material prices skyrocket, causing real estate prices to increase"},"content":{"rendered":"<div class=\"boldgrid-section\">\n<div class=\"container\">\n<div class=\"row\">\n<div class=\"col-md-12 col-xs-12 col-sm-12\">\n<h1 class=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1345 size-large\" src=\"https:\/\/blog.ark7.com\/wp-content\/uploads\/2021\/05\/8-1024x576.png\" alt=\"\" width=\"1024\" height=\"576\" srcset=\"https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/8-1024x576.png 1024w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/8-300x169.png 300w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/8-768x432.png 768w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/8-1536x864.png 1536w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/8-250x141.png 250w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/8-550x309.png 550w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/8-800x450.png 800w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/8-320x180.png 320w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/8-533x300.png 533w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/8-889x500.png 889w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/8.png 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/h1>\n<h1 class=\"\"><b>Raw material prices skyrocket, causing real estate prices to increase<\/b><\/h1>\n<p class=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-818\" src=\"https:\/\/blog.ark7.com\/wp-content\/uploads\/2021\/05\/im-322912-300x225.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/im-322912-300x225.jpg 300w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/im-322912-1024x768.jpg 1024w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/im-322912-768x576.jpg 768w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/im-322912-250x188.jpg 250w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/im-322912-550x413.jpg 550w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/im-322912-800x600.jpg 800w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/im-322912-240x180.jpg 240w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/im-322912-400x300.jpg 400w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/im-322912-667x500.jpg 667w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/im-322912.jpg 1280w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<ul class=\"\">\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">The price of lumber jumped about 320<\/span><a href=\"https:\/\/www.marketwatch.com\/investing\/future\/lb00\"><span style=\"font-weight: 400;\">%<\/span><\/a><span style=\"font-weight: 400;\"> since last year.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Copper increased by about 96<\/span><a href=\"https:\/\/www.marketwatch.com\/investing\/future\/hg00\"><span style=\"font-weight: 400;\">%<\/span><\/a><span style=\"font-weight: 400;\"> since last year while steel increased by around 198<\/span><a href=\"https:\/\/www.marketwatch.com\/investing\/future\/steel%20-%20hot-rolled%20coil?mod=over_search\"><span style=\"font-weight: 400;\">%<\/span><\/a><span style=\"font-weight: 400;\"> in the past year.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Real estate prices have surged <\/span>\u00a0<span style=\"font-weight: 400;\">12<a href=\"https:\/\/www.spglobal.com\/spdji\/en\/index-announcements\/article\/sp-corelogic-case-shiller-index-reports-12-annual-home-price-gain-in-february-2021\/\">% <\/a><\/span>\u00a0<span style=\"font-weight: 400;\">every year, and low supply of new housing adds to the increase.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New startups like Ark7 found ways to help investors capitalize on the high demand of housing.<\/span><\/li>\n<\/ul>\n<p class=\"\"><span style=\"font-weight: 400;\">In order to create a property, the structure and frame must be built. <\/span><span style=\"font-weight: 400;\">90<a href=\"https:\/\/eyeonhousing.org\/2020\/09\/how-many-homes-are-concrete-framed\/#:~:text=For%20better%20or%20worse%2C%20wood,a%20percent%20were%20steel%2Dframed.\">%<\/a><\/span><span style=\"font-weight: 400;\"> of new homes built in the past three years have been wood-framed. The price of lumber jumped about 320<\/span><a href=\"https:\/\/www.marketwatch.com\/investing\/future\/lb00\"><span style=\"font-weight: 400;\">%<\/span><\/a><span style=\"font-weight: 400;\"> since last year. Without the bones of the operation, the home is out-of-commission, unless you have more money to import it. This is causing <strong>real estate prices to increase.<\/strong><\/span><\/p>\n<h2 class=\"\"><span style=\"font-weight: 400;\">Lumber supply is down due to pandemic closures and natural causes<\/span><\/h2>\n<p class=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-819\" src=\"https:\/\/blog.ark7.com\/wp-content\/uploads\/2021\/05\/unnamed-300x258.jpg\" alt=\"\" width=\"300\" height=\"258\" srcset=\"https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/unnamed-300x258.jpg 300w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/unnamed-250x215.jpg 250w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/unnamed-209x180.jpg 209w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/unnamed-349x300.jpg 349w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/unnamed.jpg 500w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<p class=\"\"><span style=\"font-weight: 400;\">Last week, <\/span><a href=\"https:\/\/wellsfargo.bluematrix.com\/docs\/html\/1776e7f0-bae4-4963-897b-441ae870972b.html\"><span style=\"font-weight: 400;\">Wells Fargo<\/span> <\/a><span style=\"font-weight: 400;\">released an analytical study of the sharp increase in cost of lumber. They found that a variety of reasons led to this increase with the first being an error in the basic principle of supply and demand.<\/span><\/p>\n<p class=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-824\" src=\"https:\/\/blog.ark7.com\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-14-at-2.33.36-PM-300x246.png\" alt=\"\" width=\"300\" height=\"246\" srcset=\"https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-14-at-2.33.36-PM-300x246.png 300w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-14-at-2.33.36-PM-1024x841.png 1024w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-14-at-2.33.36-PM-768x630.png 768w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-14-at-2.33.36-PM-250x205.png 250w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-14-at-2.33.36-PM-550x451.png 550w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-14-at-2.33.36-PM-800x657.png 800w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-14-at-2.33.36-PM-219x180.png 219w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-14-at-2.33.36-PM-365x300.png 365w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-14-at-2.33.36-PM-609x500.png 609w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/Screen-Shot-2021-05-14-at-2.33.36-PM.png 1072w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<p class=\"\"><span style=\"font-weight: 400;\">The COVID-19 pandemic suspended, hindered and shut down many sawmills that provide for housing projects. <strong>This shutdown caused many parts of the industry to struggle, including rehiring workers and dealing with higher gas prices for wood transportation<\/strong>. Other natural forces like wildfires in the Northwest have been a cause for wood shortages and slow sawmill production. Canada has its own battles, as it deals with beetle infestation that ruined about 15 years worth of lumber supplies. Canada is the United States\u2019 largest importer of lumber, as it accounts for<\/span><a href=\"https:\/\/www.esf.edu\/pubprog\/house\/default.htm#:~:text=However%2C%20the%20U.S.%20also%20imports,U.S.%20exports%20to%20other%20countries.\"> <span style=\"font-weight: 400;\">83% <\/span><\/a><span style=\"font-weight: 400;\">of all softwood imports totaling around $4.5 billion. The U.S. is having to turn to European exports, which are much more expensive than Canadian exports.<\/span><\/p>\n<h2 class=\"\"><span style=\"font-weight: 400;\">Effects on Real Estate<\/span><\/h2>\n<figure id=\"attachment_820\" aria-describedby=\"caption-attachment-820\" style=\"width: 300px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-820\" src=\"https:\/\/blog.ark7.com\/wp-content\/uploads\/2021\/05\/102259378-construction-frame-house-made-of-wood-with-roof-rafters-metal-profiled-300x198.jpg\" alt=\"\" width=\"300\" height=\"198\" srcset=\"https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/102259378-construction-frame-house-made-of-wood-with-roof-rafters-metal-profiled-300x198.jpg 300w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/102259378-construction-frame-house-made-of-wood-with-roof-rafters-metal-profiled-1024x677.jpg 1024w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/102259378-construction-frame-house-made-of-wood-with-roof-rafters-metal-profiled-768x508.jpg 768w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/102259378-construction-frame-house-made-of-wood-with-roof-rafters-metal-profiled-250x165.jpg 250w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/102259378-construction-frame-house-made-of-wood-with-roof-rafters-metal-profiled-550x364.jpg 550w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/102259378-construction-frame-house-made-of-wood-with-roof-rafters-metal-profiled-800x529.jpg 800w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/102259378-construction-frame-house-made-of-wood-with-roof-rafters-metal-profiled-272x180.jpg 272w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/102259378-construction-frame-house-made-of-wood-with-roof-rafters-metal-profiled-453x300.jpg 453w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/102259378-construction-frame-house-made-of-wood-with-roof-rafters-metal-profiled-756x500.jpg 756w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/05\/102259378-construction-frame-house-made-of-wood-with-roof-rafters-metal-profiled.jpg 1300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-820\" class=\"wp-caption-text\">construction frame house made of wood, with roof rafters metal, profiled<\/figcaption><\/figure>\n<p class=\"\"><span style=\"font-weight: 400;\">All of these inhibitions created a drastic gap between the amount of lumber available and the steady rate of home construction. This creates a historic surge in wood pricing at around $1,645 per thousand board feet, when only one year ago in 2020 the price was $346 per thousand board feet. In addition to lumber, copper and steel have seen upticks in price. Copper increased by about 96<\/span><a href=\"https:\/\/www.marketwatch.com\/investing\/future\/hg00\"><span style=\"font-weight: 400;\">%<\/span><\/a><span style=\"font-weight: 400;\"> since last year while steel increased by around 198<\/span><a href=\"https:\/\/www.marketwatch.com\/investing\/future\/steel%20-%20hot-rolled%20coil?mod=over_search\"><span style=\"font-weight: 400;\">%<\/span><\/a><span style=\"font-weight: 400;\"> in the past year.\u00a0<\/span><\/p>\n<p class=\"\"><span style=\"font-weight: 400;\">According to Investopedia, the number one indicator of the real estate market is construction spending. All of these increases in price have also elongated the time it takes to receive the item, and overall, finish a new housing project. This is why many have turned to purchasing pre-built homes. <strong>Real estate prices have surged <\/strong><\/span><strong><a href=\"https:\/\/www.spglobal.com\/spdji\/en\/index-announcements\/article\/sp-corelogic-case-shiller-index-reports-12-annual-home-price-gain-in-february-2021\/\">12% <\/a>every year, and low supply of new housing adds to the increase.\u00a0<\/strong><\/p>\n<p class=\"\"><span style=\"font-weight: 400;\">Many are seeing effects on pre-built homes as well. According to Mark Labourdette, owner of a California home building company, a kitchen remodel costs about <\/span><a href=\"https:\/\/www.northbaybusinessjournal.com\/article\/industrynews\/lumber-price-inflation-helps-drives-up-california-north-coast-construction\/\"><span style=\"font-weight: 400;\">twice<\/span><\/a><span style=\"font-weight: 400;\"> as much as it used to. These issues have the possibility to spill over onto investors. Repairs and other issues that fall onto property managers could mean trouble for real estate investors, especially remote ones.<\/span><\/p>\n<h2 class=\"\"><span style=\"font-weight: 400;\">New and Innovative Solutions to Combat Material Shortages<\/span><\/h2>\n<p class=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-247 size-full\" src=\"https:\/\/blog.ark7.com\/wp-content\/uploads\/2021\/02\/Ark7-1.jpg\" alt=\"\" width=\"1024\" height=\"768\" srcset=\"https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Ark7-1.jpg 1024w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Ark7-1-300x225.jpg 300w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Ark7-1-768x576.jpg 768w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Ark7-1-250x188.jpg 250w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Ark7-1-550x413.jpg 550w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Ark7-1-800x600.jpg 800w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Ark7-1-240x180.jpg 240w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Ark7-1-400x300.jpg 400w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Ark7-1-667x500.jpg 667w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p class=\"\"><span style=\"font-weight: 400;\">Startups like Ark7 have noticed these obstacles to real estate investing and found ways to capitalize on the high demand of housing. Our team takes care of property management pains for investors, and curates properties in high-demand areas. We also look for homes in close proximity to good schools, parks and amenities. <strong>Ark7 offers these properties as fractional shares,<\/strong> allowing investors to diversify their portfolio while leaving the task of property management to professionals.\u00a0<\/span><\/p>\n<div id='gallery-1' class='gallery galleryid-817 gallery-columns-1 gallery-size-large'><figure class='gallery-item'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/ark7.com\/blog\/articles\/what-is-ark7\/attachment\/screen-shot-2021-02-20-at-12-42-35-pm\/'><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"853\" src=\"https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.35-PM-1024x853.png\" class=\"attachment-large size-large\" alt=\"\" aria-describedby=\"gallery-1-237\" srcset=\"https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.35-PM-1024x853.png 1024w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.35-PM-300x250.png 300w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.35-PM-768x640.png 768w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.35-PM-250x208.png 250w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.35-PM-550x458.png 550w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.35-PM-800x666.png 800w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.35-PM-216x180.png 216w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.35-PM-360x300.png 360w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.35-PM-600x500.png 600w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.35-PM.png 1496w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='gallery-1-237'>\n\t\t\t\tThe Property Page\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/ark7.com\/blog\/articles\/what-is-ark7\/attachment\/screen-shot-2021-02-20-at-12-42-44-pm\/'><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"755\" src=\"https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.44-PM-1024x755.png\" class=\"attachment-large size-large\" alt=\"\" aria-describedby=\"gallery-1-238\" srcset=\"https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.44-PM-1024x755.png 1024w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.44-PM-300x221.png 300w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.44-PM-768x566.png 768w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.44-PM-250x184.png 250w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.44-PM-550x406.png 550w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.44-PM-800x590.png 800w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.44-PM-244x180.png 244w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.44-PM-407x300.png 407w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.44-PM-678x500.png 678w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.44-PM.png 1454w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='gallery-1-238'>\n\t\t\t\tTransparent Information\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/ark7.com\/blog\/articles\/what-is-ark7\/attachment\/screen-shot-2021-02-20-at-12-42-57-pm\/'><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"923\" src=\"https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.57-PM-1024x923.png\" class=\"attachment-large size-large\" alt=\"\" aria-describedby=\"gallery-1-239\" srcset=\"https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.57-PM-1024x923.png 1024w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.57-PM-300x270.png 300w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.57-PM-768x692.png 768w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.57-PM-250x225.png 250w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.57-PM-550x495.png 550w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.57-PM-800x721.png 800w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.57-PM-200x180.png 200w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.57-PM-333x300.png 333w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.57-PM-555x500.png 555w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.42.57-PM.png 1110w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='gallery-1-239'>\n\t\t\t\tPoints of Interest\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/ark7.com\/blog\/articles\/what-is-ark7\/attachment\/screen-shot-2021-02-20-at-12-43-06-pm\/'><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"937\" src=\"https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.43.06-PM-1024x937.png\" class=\"attachment-large size-large\" alt=\"\" aria-describedby=\"gallery-1-240\" srcset=\"https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.43.06-PM-1024x937.png 1024w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.43.06-PM-300x274.png 300w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.43.06-PM-768x703.png 768w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.43.06-PM-250x229.png 250w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.43.06-PM-550x503.png 550w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.43.06-PM-800x732.png 800w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.43.06-PM-197x180.png 197w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.43.06-PM-328x300.png 328w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.43.06-PM-547x500.png 547w, https:\/\/ark7.com\/blog\/wp-content\/uploads\/2021\/02\/Screen-Shot-2021-02-20-at-12.43.06-PM.png 1056w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='gallery-1-240'>\n\t\t\t\tMarket Summary\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n\n<p class=\"\"><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.ark7.com\">Sign up<\/a> to browse properties in hot areas like Austin, Berkeley, and Seattle.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Raw material prices skyrocket, causing real estate prices to increase The price of lumber jumped about 320% since last year.\u00a0 Copper increased by about 96% since last year while steel increased by around 198% in the past year.\u00a0 Real estate prices have surged \u00a012% \u00a0every year, and low supply of new housing adds to the &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/ark7.com\/blog\/articles\/raw-material-prices-skyrocket\/\"> <span class=\"screen-reader-text\">Raw material prices skyrocket, causing real estate prices to increase<\/span> Read More \u00bb<\/a><\/p>\n","protected":false},"author":12,"featured_media":1345,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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