Soaring Increased Wood Construction Material Cost

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Increased Cost of Wood Construction Material
Soaring Increased Wood Construction Material Cost (Pexels Photo)

Since the start of the pandemic, we have seen a giant leap in the cost of wood construction material used for home improvement. While this is great for businesses that provide these supplies and materials such as the lumber, shingles, and other materials that we use to give you the best roofing solution possible, it is not great for everyone else including the contractors involved with giving you your new roof.

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    How Bad are the Increased Lumber Prices for Construction Material?

    Since April 2020, costs of building materials has increased by at least 50 percent across multiple supplies. According to NAHB Now, lumber prices have soared by a least 50% across the different companies. Some have even seen an increase as high as 100-120%. Shingle prices have increased by around 20 percent. Windows alone especially wood windows have not only seen an increase in cost by an average of 3.2 percent; and we’ve seen an increase in lead times. Before the pandemic we were seeing lead times of two weeks. Now, we are considered fortunate to see a two-month lead time.

    Why have Construction Material Prices Gone Up due to Wood Prices?

    Wood Construction Material

    This is a really great question. The simple and boring answer is supply and demand. The longer version makes more sense. When the pandemic hit, a lot of workers that help to produce the supplies we need were sent home for their own safety. Transportation of materials slowed down as well since they weren’t being produced. At the time there was a heavy spike in unemployment, because these laborers as well as many others were not able to go to work due to their own safety. Basically, either you worked from home or you were unemployed. For many these were hard times. This caused a decrease in supply.

    Even with all of this going on, the resilience of humanity was still alive and well. Because people were at home more, had more time to do things, and the manpower, a lot of people saw an opportunity to take on those home improvement projects that had gone unattended for years. Those new and improved spaces were no longer on the back burner. They became projects that kept people busy while maintaining quarantine. As a result of this, the demand for these supplies went up.

    When there is a decrease in supply and an increase (in this case a giant one) in demand, the prices go up as the supply chain attempts to correct. This is why we saw the gigantic spike in the cost of building materials, especially with those incorporating wood products. This is what has placed everyone in a bit of a conundrum.

    What Does this Building Material Price Increase Mean for Me (the Consumer)?

    While the fact that people were doing what they could to stay safe and busy is a great thing, the unfortunate consequences came later. At this point, when it comes to home improvement in general, whether you use a contractor or not, you can expect to spend more money due to the increase in prices of the materials.

    If you decide to use a contractor, that may mean a heavy adjustment to the time and monetary estimates that you may have anticipated at one time. For most contractors including us at Clark Brothers Homes, we are not increasing prices because the labor is more nor because we have any more expertise than we did before. The price is literally increasing due to the cost of supplies.

    This has been both frustrating for the consumer as well as the contractor, especially considering that the contractors are often also consumers. We have to be the bearers of this unfortunate news as a result of something that should really be a testament to the resiliency of people when under pressure. Some contractors have attempted to absorb some of these costs within their own labor fees. For a small period of time, that worked. Nevertheless, there came a point where the price hike was so high that this was no longer possible. At the end of the day, we employ amazing workers that are experts in their field and have to pay them accordingly.

    We have also seen where some contractors have sought out more foreign supplies. That may have an affect on the quality of the supplies we use. Also, foreign supplies include foreign shipping costs. At the end of the day, everything has a cost.

    Adjusting to the New Normal of Increased Lumber Costs

    At the end of the day, the burden of this increase will fall on the consumer. Regardless of if you decide to use a contractor or go the DIY route, you will still have to pay for supplies, so the cost will still be there. If you are still weighing between getting a contractor for your roof, like Clark Brothers Homes, or going the DIY route, please consider the following pros of going with a professional.

    • You get a professional contractor with years of experience and expertise
    • You get an estimate from the beginning that is more accurate
    • The contractor will be willing to work with you to negotiate prices and provide more economical options without sacrificing quality.
    • We DO NOT cut corners.
    • At Clark Brothers Homes, our services include a free inspection to tell you exactly what is causing your roofing concerns as well as what is needed to solve your problem.

    We completely understand the frustration of these unexpected price increases. At the end of the day, this pandemic was a surprise for the average person. The after effects are still coming, and we are all doing our best to adapt and move forward. That is the resiliency that many of us found during this pandemic. While we at Clark Brothers Homes do not enjoy giving our clients new estimates that are outside of the ballpark we initially quoted, the fact of the matter is that this is our new reality for now. Hopefully, this spike will end soon since people are returning to work and steadily meeting the demands of people.

    Continuing to Serve the Atlanta Area

    At the end of the day, we at Clark Brothers homes are still committed to giving you top-notch service including our roof to foundation FREE inspection of your home. We are also willing to walk you through what you need for your roof to be in good shape for the long-term. Contact Clark Brothers Homes TODAY to discuss your roofing needs.

    1 thought on “Soaring Increased Wood Construction Material Cost”

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