The price of lumber has doubled in three months.
Lumber is just one of several examples of skyrocketing materials costs which are impacting both home builders and home buyers.
The cost of lumber is now at a record-level $1000 per 1000 board feet.
These rising costs not only add to the sales price of a home but also add to the inventory shortage issue. Some large, publicly-traded home building companies are slowing production in hopes of building costs dropping over the next few months.
Many people expected lumber prices to drop, or at least level off, when the tariff on Canadian lumber changed in December.
However, because demand has been so high from both building and remodeling, lumber costs continue to climb.