Lumber prices that skyrocketed during the COVID-19 pandemic are starting to decline as new home sales drop, but experts advise continuing to wait before building a house or starting on your next project.
Rising prices and uncertainty surrounding when materials would be available have made it difficult for developers and homeowners to plan, he said. “A lot of families when COVID started, instead of moving, they decided to expand or build an office space or something,” Roberto Quercia, a professor at UNC-Chapel Hill who specializes in housing and community development, told McClatchy News. “The higher cost of lumber and the unpredictability of when that lumber is going to get to your home makes it really complicated to plan such home improvements.”