Homeowners delaying projects due to lumber prices that are through the roof
JACKSON, Miss. (WLBT) - The cost of lumber has reached a point where customers are having to delay certain projects.
A job that used to cost two-to-three thousand dollars to complete now costs at least double. This is mostly due to a shortage of lumber and high prices as a result.
“It makes it harder to get the jobs because we’re having to charge a lot more to get these jobs done,” Tyler Carter, co-owner of Revival Remodeling, LLC said. “People just think that we’re price-gouging.”
Carter says he does roughly three estimates per day and of those three, at least two customers typically decline because of the high price. Additionally, he says lumber is taking up to six weeks just to get delivered.
“We’ll get halfway through a job, and we’ll be waiting on one thing to complete that job,” he said. “We can’t get paid. Customers are not going to pay until the job’s complete.”
Other businesses like Affordable Mattress are also being hit hard by costly lumber.
“Since November, we’ve had seven price increases on box springs,” Jim Beckham, owner of Affordable Mattress said. “People don’t realize the amount of wood that is in box springs.”
Bill Price, president of a wood products distribution company called All Star Forest, said COVID-19 brought on an employee shortage. Price believes due to the pandemic and folks having to quarantine, they had more time to do at-home projects as well as stimulus checks to help pay for them.
“Imports were slowed from the pandemic, so there was no alternative products,” Price said. “Supply was a little off and demand was high - the perfect storm.”
Price said, at first, he thought the upward trends were temporary as they’ve been in the past.
“They’ve kept increasing, and they’ve hit levels that we’ve never seen before,” he said.
Price said lumber costs have started to fall recently, and he expects that to continue over the next three months.
Until then, he recommends buyers hold off on projects if possible or expect to pay more if it needs to be done quickly.
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