Madison County home builders react to lumber price increases

Madison County home builders react to lumber price increases

Price of lumber is rising at an alarming rate and it's not slowing down anytime soon research shows since last March the price has increased nearly 190% this could have a major impact on home buyers on average a 2000 square foot house just the lumber Packers are going up about $25,000 waay-31 Alexis Scott is live in Huntsville she talks with home builders about why these prices are so high Alexa coronavirus fires in the Midwest and just high demand is all to blame for why this piece of wood is so much more expensive now Barry Oxley told me there is a light at the end of this tunnel but it's just another adjustment home builders and new home buyers will have to take into consideration a year ago Lumber per thousand feet was about $400 today it's about $1,300 per thousand feet County Home Builders Academy he told me there's a beautiful thanks to builders and construction companies but not a whole lot but no way there's some of that price increase doesn't get passed on to Consumers and future low interest rate more people are looking to buy a house and work construction sites are popping up they both say they want to give the consumer whatever they desire for home but would also high for materials you'll have to be flexible you know either possibly maybe be able to buy the house or they can maybe have some of the options on the house that they would want or have to cut back on Furnishing is entirely sure how long is price hike will last but awfully is hoping by the end of the year we can start seeing the rate of lumber flatten out but no matter she said if the demand is there they building where Builders remodelers ready to go out there and do project for people it may just take three or four months longer than what she normally would have but everything can still be done Oxley told me the housing market is not the only thing that's affected by this the factories in the Mills that helped make the lumber are as well do it, but they had to limit the amount of people working and now the demand is stronger than ever the Oxley says he hopes everyone can just stay patient reporting live in Huntsville Alexa Skyway 31 News