Lumber prices nearly four times higher than last year, hurting home builders & buyers
The real estate market is red hot, but record-high lumber prices are driving up costs for home builders and home buyers.
and last updated 2021-05-12 18:35:00-04
(WXYZ) â The real estate market is red hot, but record-high lumber prices are driving up costs for home builders and home buyers.
Michael Stoskopf, the CEO of the Home Builders Association of Southeastern Michigan, said the cost of lumber, which was 35 cents-a-foot for per thousand board feet at the start of the pandemic, has skyrocketed since. On the exchanges right now, itâs closing upwards of $1,400 per thousand board feet, thatâs a factor of four, he said. So, if a house had $10,000 worth of just a framing lumber package in it, that same lumber package now would cost $40,000.
Homebuyers, renovators battle ‘unprecedented’ lumber costs
Lumber, pictured here in the yard of Dillman & Upton in Rochester, has seen costs skyrocket across the country over the past year.
Photo by Deb Jacques
Now, the latest product to become scarce amid COVID-19 is lumber.
Lumber costs are at an all-time high, spiking over 180% since last April, according to Random Lengths which provides reports of market activity, prices and other analyses for the wood products industry.
But what’s causing the surge?
At the start of the pandemic, state-mandated lockdowns closed sawmills across the nation, drastically reducing lumber on the market. At the same time, homeowners sheltering in place began allocating money that would have otherwise been spent on traveling, entertainment or dining out to home renovations and do-it-yourself projects.
Gardner-White s new Detroit Furniture Collection is made in U.S.
Gardner-White is taking a page out of the former Art Van Furniture s playbook. The Detroit retailer has introduced a Detroit Furniture Collection, made exclusively for Gardner-White, that includes the Marisol sectional and accent chair and few other pieces. Each piece is made in the United States and handcrafted with superior quality, according to the retailer s website. Prices range from $679 for the Marisol Accent Chair to $2,399.99 for the Marisol section. Go to gardner-white.com/brands/detroit-furniture-collection.
Check out latest deck trends, materials at On Deck Saturday
Homeowners contemplating redoing or building a new deck when the weather warms up may want to check out Dillman & Upton s next On Deck Saturday from 9 a.m. to 1 p.m. this weekend at its showroom in downtown Rochester. Deck professionals will be on hand to answer questions and customers will be able to check out displays featuring lo