Wood prices have continued to rise throughout the pandemic
LAWTON, Oklahoma (KSWO) – Lumber prices have skyrocketed here in southwestern Oklahoma and across the country.
According to Philip Kennedy of the Comanche Home Center, there is currently an unusually high demand for lumber products.
“Not only in the construction of new homes and new commercial constructions as well. But we’re also seeing a lot of reshaping going on, ”Kennedy said.
Low interest rates on mortgages have fueled demand for home construction, commercial property and renovations.
Kennedy said that’s just part of the reason for the high lumber prices.
“We’ve had a lot of challenges with our supply chain over the past year, from various things like COVID to the fact that we’ve had unusual weather conditions in this part of the country as we head further south towards the Texas and other producers. areas for our market, ”Kennedy said.
There is generally a decrease in the number of people buying wood during the winter, but this was not the case this year.
Local real estate developer Ron Nance has heard that high prices are preventing a number of home builders from giving quotes on homes until they are finished.
“So they won’t pre-build a house and if they do, make a customs house, they have escalation clauses for the price increase because they don’t know how much it’s going to increase,” said Nance.
Theft is another problem that manufacturers across the country face. The high prices of lumber may be the reason why it is lacking on construction sites.
Nance said he has not had to deal with this issue and has yet to hear about the issue locally.
“But I have contact with a lot of builders in Oklahoma City and across the state. I’m vice president of the Oklahoma State Home Builders Association. I know that in Oklahoma City, every neighborhood where houses are built is hit every night by thieves who steal their wood. Oklahoma City builders hire security guards to set up in front of their home from the time workers leave at night until they return the next morning, ”Nance said.
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