May 4, 2021
Prices have just shot up astronomically.Gary Hineman, Delaware County Supply Company, on skyrocketing lumber prices.
- Lumber prices have quadrupled. Here’s an anecdote from Hineman: “We typically are used to seeing it around $10-$12, as low as $9 per sheet. It’s selling for $43 per sheet right now.”
- Costs have risen because of low supply. Sawmills closed during the COVID-19 shutdown causing a shortage at the same time there’s high demand for building materials.
- Why does it matter? The higher building costs combined with a shortage of housing inventory pushes home prices higher. One estimate says higher lumber prices currently adds $36,000 to the cost of a new house.
Read more HERE: Lumber, construction supply prices skyrocket amid high demand
by Jenna Lee,