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After a year of ever-rising prices for lumber and other building materials, we can finally report that the costs of many building commodities are coming down, and supplies are expanding.
A lot of factors contributed to high prices. While the cost of lumber was widely covered in the press, the same factors also directly affected supplies of materials such as PVC, OSB, and the resin used to manufacture subfloor, among others. Here are a few of the reasons prices climbed so dramatically in a short period.
As certain businesses were deemed essential services, workers in those industries returned to work, and production slowly resumed. However, widespread labor shortages resulted in a very gradual increase in materials flowing through the supply chain. Commodities with little processing made the most extensive inroads to recovery, while manufactured goods that require multiple components and processes lag behind.
Surprisingly, the weather had a positive impact. In the late spring, wet weather throughout the South slowed demand leading into the summer months. Additionally, as homeowners returned to near-normal activities in many locations, DIY demand slowed, opening up supplies for contractors.
Interest rates remain low at the moment, enabling consumers to purchase homes and to invest in renovations of their existing homes.
We have seen significant decreases in costs in all lumber species over the past few weeks. Lumber costs are now close to what they were in Spring 2020. Here’s what we see now about some of the lumber and other building products that are in high demand.
Prices and availability are continuing to shift even as supply chains open up. If you have any questions about these or other products, please let us know by calling our hotline at 1-877-542-8986 or dropping by one of our stores. Our hard-working merchandising and pricing teams continue to seek creative ways to keep the materials you need in stock and make them available at the best possible price. We’re here to serve - let us know how we can help.