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What Home Builders Can Learn from Supply Chain Issues in 2021 - Canadian Architect
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While it’s no secret that the cost of lumber reached record-highs in 2021, it is important to understand some of the factors that have led to where we are now. It is also key to learn about other areas where builders can counteract these cost and supply challenges going forward. Keep reading to learn more!
Why did the cost of lumber rise to record-highs?
In the summer of 2020, demand for homes in Canada rose sharply and suddenly. As a result of this higher demand, home prices increased and so did the costs of building materials including lumber. Prices remained high for new homes in early- to- mid-2021, and thus, so did the prices for the lumber needed to build them.