What is happening with lumber prices?!?
You may have noticed in the last few months that prices for home goods are through the roof (no pun intended)! Real estate nationwide is at unprecedented levels of demand with homes selling in 2-3 days with multiple offers over asking, and home prices up 17% from this time last year. Similarly, the demand for building materials both in new construction and remodeling are at all-time highs with some standard building materials completely sold out for the year already at almost 3X their standard costs.
With all this happening, it goes without saying that construction costs are rising. Here at Rick’s, we have 5 fully-stocked lumber yards and we purchase early in the season to ensure that we have enough stock for every project necessary. With unprecedented demand for building materials, we are doing our best to keep everything you need in stock and buying as competitively as possible. Here’s what you as home owners should know to make the best buying decision this year:
- Prices will keep increasing: Demand is not decreasing and supply is running out on a lot of materials. If you feel that prices are higher than you were expecting, you may be surprised to hear that they are projected to continue rising before leveling off to a new normal.
- Supply may run out: Some of our suppliers have sent us their last available materials for the foreseeable future and we expect others to run out as well. Waiting to start your project now could mean the difference between getting your new fence done this year, or a year from now.
- Crews are booking up fast: Each of our 5 locations has 8+ crews working 6 days a week to keep up with this unprecedented demand. Even then, we are starting to book projects into the summer months already. Lock in your prices and your start day as soon as you make a decision, so you are not left waiting until winter to enjoy your new backyard.