SIOUX CITY, Iowa (KCAU) — Across the country, building material prices have recently skyrocketed due to the pandemic, and it’s affected local contractors and consumers.
“Currently, prices are about triple of what they were last year,” Pat Redmond, of Lechner Lumber, said.
Contractors and lumber distributors are battling material shortages, as well as high demand from consumers. As a result, new home construction has slowed down.
“New building is definitely slowed,” said Jeremy White, of Avalon Construction. “Lumber packages have spiked, you know, up 50 percent from where they were before. I kind of feel like it’s going to be more remodels this summer than anything else.”
“People weren’t going to build because they couldn’t get it,” said Redmond. “I mean, they could pay the price, but we just couldn’t get the material here.”
Materials that used to take days to receive now take months to get.
“I mean we’re still having a lot of materials show up later than usual, it’s hard to say what’s causing it or what materials are going to be affected next,” White said.
Some people used their time in quarantine to complete projects around the house which greatly contributed to the high demand. The pandemic also affected the supply chain. Unfortunately, the price increase is being passed down to the consumer.
“We’re trying to work with the old prices, but it’s inevitable that house prices are going to have to go up,” said White.
Experts say prices could stay this high for awhile.
“It’s going to take a while for prices to go down with the demand so high,” said White.
“The end in sight, it’s gonna remain elevated, it’s going to bounce around at the elevated price, and I don’t see it coming down for some time,” said Redmond.
White said that for awhile, lumber, a key part of many homes, was the main material that was hard to get but now, sheet rock and roof shingle prices are steadily rising.