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Lumber Price Spike Causing Problems For Builders And Homeowners

Haverstick Builders.jpeg
Haverstick Builders Dayton, Inc
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Lumber prices have risen more than 180% in the past 10 months.

Nationally, lumber prices have skyrocketed in recent months. The increase is a result of both lumber shortages and higher demand stemming from the pandemic.

The Home Builders Association of Dayton says lumber prices have risen more than 180% in the past 10 months. That adds more than $24,000 to the price of a new home.

“While builders across the Dayton region are reporting solid demand for new homes fueled by low interest rates, favorable demographics and a suburban shift as a result of the COVID-19 crisis, many prospective buyers are hitting a brick wall due to a run-up in pricing that is directly linked to the surge in lumber prices,” says HBA Dayton C.E.O., Eric Farrell.

Home builders are saying the high prices are a threat to the housing sector and its role in the economic recovery.

“These prices are higher than I've ever seen," says Kim Haverstick, president of Haverstick Building in Dayton.

He says high-priced lumber is hurting builders and clients. Until the market stabilizes, he's got some advice for anyone considering a construction project.

“They need to work closely with their contractor and discuss the costs of the lumber so that each party understands that we're in a state of flux, that it's very difficult to pin down what the costs are going to be and who's going to pick up those costs.”

Haverstick says supply chain disruptions have also affected availability and pricing for other home goods, like appliances and electrical supplies.

Jerry Kenney was introduced to WYSO by a friend and within a year of first tuning in became an avid listener and supporter. He began volunteering at the station in 1991 and began hosting Alpha Rhythms in February of 1992. Jerry joined the WYSO staff in 2007 as a host of All Things Considered and soon transitioned into hosting Morning Edition. In addition to now hosting All Things Considered, Jerry is the host and producer of WYSO Weekend, WYSO's weekly news and arts magazine. He has also produced several radio dramas for WYSO in collaboration with local theater companies. Jerry has won several Ohio AP awards as well as an award from PRINDI for his work with the WYSO news department. Jerry says that the best part of his job is being able to talk to people in the community and share their experiences with WYSO listeners.