Lumber Shortage Is Driving Up Home Prices In Texas
By Anna Gallegos
April 26, 2021
The price of houses keep on going up in Texas.
Part of this is driven by demand, especially in places like Austin and Dallas, but also because of the rising price of building supplies.
According to the National Association of Home Builders, the price of lumber has gone up 180% since the start of the pandemic, which is impacting builders across the state.
Home builders are passing the price increase on to home buyers. Johnny Hollins of JG Hollins Builders in Houston told KPRC the price of a new home is going up $30,000 to $40,000 to cover the costs of materials.
DIY-ers and contractors working on home improvement projects are also being affected by the high prices.
So what's behind the shortage and the rising costs? It's a supply-and-demand issue. It's been made worse by lumber mills being closed because of the pandemic, labor shortages, and other factors.
No one is sure when prices will return to normal.
“From what I can tell, we’re gonna be in this for a while,” said Hollins.
Photo: Getty Images