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Multiple factors impacting construction industry

Posted at 6:27 PM, Nov 05, 2020

If you're looking to make repairs to your home or to build, you may be digging deeper into your wallet.

Like so many other industries, 2020 has impacted building supplies.

"We've seen most lumber double and some of the main lumber we use has even tripled over the last six months or so," said Jeff Wood, owner of Jeff Wood Construction and the President of the Acadian Home Builders Association.

Wood says prices began going up because of a shortage during the pandemic. Add multiple hurricanes along the Gulf Coast, demand is exceptionally higher.

Wood says with the price fluctuation, it can make doing business a bit challenging.

"I know a lot of people are not able to hold a contract or a quote for any length of time," Wood said. "People are leaving lumber line items open because it's something they can't guarantee. I know builders who have had to go back to people who have already had signed contracts and try to explain to them what they're facing."

Jason Randall, a supervisor at Stine in Broussad says the market struggled to initially keep up, but things are getting better. Randall says at Stine, they did not see much of a price difference in lumber, but he notes it's normal for the price of goods to fluctuate in the marketplace.

"I guess before the hurricanes really started hitting, we we were starting to rebound as far as stocking lumber and other products throughout the store," Randall said.

Although more people are buying construction supplies, Wood has noticed a trend over the last month.

"We are seeing what some of the lumber yards are saying that there is a 20-25% decrease in lumber and materials already," Wood said.

He also believes if the price of lumber and interest rates will continue to stabilize it will be good for business and consumers.

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