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uilding supplies have become hard to get! “Right now, the demand for people to invest in their properties is at an all-time high. People are pulling the trigger on projects on things they have not thought about for years,” said Genn Howley, owner of GNH Lumber in an interview with Times Union. “There were all these details that woke up homeowners. We were all trapped between these four walls all the time and now are paying attention to things that never bothered us before.”
It’s not just lumber that’s scarce, it’s PVC piping, paint, fencing, vinyl windows, canning jars, and yes, even birdseed (lol). And it’s not just that these items have become hard to find, they’ve also become a lot more expensive! In January, an eight-foot piece of two-by-four cost $3.07. Today it costs $7.
These conditions are currently affecting how quickly service contractors can provide your work, whether it’s builders, plumbers, electricians, or HVAC contractors. Also, if you are planning on doing any home projects yourself, bear in mind that you may have to pay more and accept longer wait times. Fortunately, the prices are starting to come back down again as regular supply chains are reopened.
These conditions are having a side effect in the home market where new homes are more expensive and less available to home buyers. This creates an additional factor as to why the value of your home has also been climbing so high and so quickly.