As we move into fall, there is some great news — lumber prices have come back down to earth! The sudden spike in lumber prices earlier in the year was created by a housing and renovation boom which was fueled by low interest rates and people having time to work on projects due to the pandemic. This coupled with a significantly lower availability of lumber at the time, created the panic market conditions which doubled and tripled prices in a very short period.
Since the summer, lumber prices have dropped to pre-pandemic levels, and the industry considers prices to have bottomed out. However, costs of other building products such as doors, windows, siding, insulation and of course labour have continued to rise all year long.
Many of our clients who have been working ahead on their drawings and construction planning for next year, are choosing to lock in on their house package orders now, so a significant part of their building budget will not be affected by further sudden price increases.
Since Tamlin ships all across the USA, the strong US dollar (relative to the Canadian dollar) is another benefit to our clients who want to buy prefabricated home packages “direct from the factory”.
