Home builders

Timber Prices Rise 180% As Lubbock Home Builders Strive To Cut Costs

LUBBOCK, Texas (KCBD) – According to the National Association of Home Builders, lumber prices have risen more than 180% since last spring.

Corey Lusk of Betenbough Homes says he’s never seen lumber prices so high. He says this is due to a decrease in material production due to the pandemic and the historic winter storm in February.

“At Betenbough Homes, we are a cost plus builder. So when the cost of building materials goes up, the price to our home builders goes up. But luckily, when material costs go down, prices go down, ”Corey said.

Lusk says home sales for the business are still doing well, but suggests clients could make small adjustments to their homes.

“More home for less money can take many forms. They can choose not to put some of the options in the house that they were going to get. Or instead of buying a 2,000 square foot home, they could buy an 1,800 square foot home.

According to a chart from the National Association of Home Builders, prices were $ 1,100 per thousand board feet just a week ago, compared to October prices which were around $ 500 per thousand board feet. .

“It’s a big part of what we do as an affordable home builder, to provide more homes for less money… to find other ways to lower home costs. “

The National Association of Homebuilders is working with the government to develop solutions to this sharp increase in lumber prices.

“As cost increases increase, we try to offset these increasing costs in other ways. “

This association claims that the average price of a new single-family home is increasing by more than $ 24,000.

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