Lumber prices skyrocket in past year
MERIDIAN, Miss. (WTOK) - The price of lumber has been soaring across the nation. Contractors, real estate agencies, and lumber companies have been impacted. Their cost going up means yours does too.
“It’s a situation we haven’t experienced in our market in a long time, if ever,” Managing Broker at Hill Real Estate Group, Darryl Jackson said.
Jackson says price of lumber has gone down during the last few days, but it is still two times more than what buyers had been paying before the pandemic. He says prices quadrupled due to COVID-19, with people not working.
“We’re running into this with repairs on properties that we are listing people are having difficulty finding a contractor,” Jackson said.
A 23-year licensed contractor, Todd Dirksen, says there are no “one stop shops” anymore because wholesale companies limit their lumber since prices are so high.
“A three-quarter sheet of plywood use to be $26 to $30.” Dirksen said, “Now, it’s roughly $85. A lot of your structural lumber 2 to 4, 2 to 6 have went up to as much as $10 a piece.” Dirksen describes it as a ripple effect.
Mike Barnett, manager of Bailey Lumber and Supply Company, says he has had a shortage on all items in his store due to COVID. But he is keeping a positive mindset.
“I’m still saying it’s looking up.” Barnett said, “I’m still saying it’s going to go back to normal before too long here. It should.”
No one can say when the price will return to normal. The lumber buyers and real estate people Newscenter 11 spoke to, just hope that time is soon.
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