DENVER (AP) – A nationwide surge in lumber costs is affecting home buyers and homeowners in Colorado. Ali Wolf with the housing market research firm Zonda says lumber prices are up 250% compared to a year ago, driving up construction costs.
Colorado already had some of the hottest real estate markets in the U.S. Now, lumber prices are contributing to a home price surge that shows no sign of slowing.
The surge follows predictions of a pandemic-related housing slowdown that never came to pass. Wolf tells The Denver Post last year’s COVID-19 lockdowns made people want homes that meet their evolving needs.
In April, a contractor told CBS4 customers need to make quick decisions if they want to cut down on the cost of a new fence or deck.
The dramatic increase in the price has forced him to drive an hour outside of Denver some days to get a better rate for customers, even though it increases his gas expense. Comparing the prices of all sizes of lumber that he uses for fences, including a 1x4x6 or a 4x4x8, the price has gone up by $1-10 per piece in just a year.
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