The 'Lumber Bubble' May Have Just Burst

Looking for the Latest on the Lumber Status? �

Happy July!

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Scroll down below for a wealth of current information to keep you in-the know. In addition to our monthly Charlotte County market report, we also have the latest article on LUMBER, which will be especially important if you're planning on building or renovating your home. Please enjoy some exciting Patterson Group news as well as a gorgeous Punta Gorda Featured Property and monthly recipe for all the seafood-lovers out there.

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Our Team at The Patterson Group


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"I contacted The Patterson Group on June 14th, 2022 and received a call back in about 4 minutes. I was given a phone Appointment/Interview with Matthew Patterson on June 17th. We decided to list our property with The Patterson Group. Within hours I was contacted by Shelly Nims, the listing partner to Matthew Paterson. Our property was officially listed on June 20th. We were in contract on June 24th. We closed the sale on July 8th. From June 20th through July 8th, Shelly Nims kept us thoroughly updated and informed on every aspect of our transaction along with getting critical documents signed and notarized for us. This was the fastest, most efficient and professional real estate sale we have ever experienced. Unbelievable; first contact to closing in 22 days. Thank you Shelly, Matthew and the entire team at The Patterson Group."

Joseph C. | Home Sold in July 2022


The "Lumber Bubble" May Have Just Burst

June 3, 2022

Since the pandemic, lumber prices have skyrocketed to record highs, adding to new-home construction costs. But prices are now coming down. Lumber prices have fallen 12% this week, reaching a new low in 2022.

That could be welcome news for new-home buyers and builders. Over the past year alone, the swings in lumber prices have prompted the price of a new single-family home to rise by more than $18,600, according to the National Association of Home Builders.



In the last three months, lumber prices have started to come down as the housing market shows signs of slowing and interest rates rise. A glut is forming in the lumber market as inventories begin to pile up. Lumber buyers have slowed their orders, and sawmills are beginning to slash their prices, The Wall Street Journal reports.

Lumber prices have fallen 47% year to date. They are down 65% from a 2021 record high of $1,733 per thousand board feet. The big drops should help ease inflationary pressures in the housing market, and the costs to build should come down, Markets Insider reports.


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Crispy Crab Cakes with Tomato Butter

Total Time: 1 hr 10 mins | Yields: 4

4 ounces skinless whitefish fillet
3 jalapeños, seeded, divided
1/2 cup mayonnaise
1/3 cup thinly sliced scallions
1 tablespoon chopped fresh flat-leaf parsley
2 teaspoons kosher salt, divided
1 teaspoon black pepper, divided
1/2 teaspoon cayenne pepper
1 pound fresh jumbo lump crabmeat, drained and picked over
1 1/2 cups panko
6 small plum tomatoes (about 1 pound), cored and halved
3 medium shallots, chopped
3 medium garlic cloves, chopped
6 tablespoons olive oil, divided
2 cups chicken stock
1/4 cup unsalted butter, cut into pieces
2 cups mixed fresh summer herbs (such as basil, mint, and flat-leaf parsley)
1 lemon, cut into 4 wedges

Preheat oven to 450°F. Process whitefish in a food processor until mostly smooth. Transfer to a large bowl. Finely dice 1 jalapeño; add to bowl with fish. Stir in mayonnaise, scallions, parsley, 1 teaspoon salt, 1/2 teaspoon black pepper, and cayenne. Gently fold in crabmeat, leaving lumps intact. Divide mixture into 8 portions (about 1/3 cup each); shape into 3-inch-wide, 1/2-inch-thick patties. Sprinkle both sides of patties generously with panko to coat completely; press lightly to adhere. Refrigerate 30 minutes.

While patties chill, stir together tomatoes, shallots, garlic, 1 tablespoon oil, and remaining 2 jalapeños in an ovenproof skillet. Roast in preheated oven until tomatoes collapse, about 15 minutes. Remove skillet from oven, and transfer to stovetop over medium. Add stock, and cook, stirring often, until most of the liquid has evaporated and mixture is reduced to about 1 1/2 cups, about 15 minutes. Transfer mixture to a blender. Secure lid on blender, and remove center piece to allow steam to escape. Place a clean towel over opening. Process, gradually adding butter pieces through opening, until mixture is smooth and butter is combined. Season with 1/2 teaspoon salt and 1/4 teaspoon black pepper; keep sauce warm.

Heat 1/4 cup oil in a large skillet over medium-high. Working in batches, cook crab cakes until golden brown, 2 to 3 minutes per side. Transfer to a wire rack.

Toss herbs with remaining 1 tablespoon olive oil, remaining 1/2 teaspoon salt, and remaining 1/4 teaspoon pepper. Spread about 1/3 cup sauce on each of 4 plates; top evenly with herb salad and crab cakes. Serve with lemon wedges.

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