October 2020 | Home Building News
The current increased desire for new homes has created a perfect storm of high demand and limited availability of materials in the construction industry, which has vendors and builders across the country struggling to keep up.
In a recent survey by Meyers Research, half of the builders surveyed had experienced delays in acquiring supplies. Outdoor deck materials such as pressure treated and composite woods are completely unavailable in some markets. Appliance vendors have also had difficulties, leading some builders to make substitutions and limit selections.
The National Association of Home Builders reports that lumber prices have increased by more than 170% since spring, adding an average of $16,000 to the cost of building a new home.
While we have managed to keep our projects on schedule through the summer, we are starting to see signs of potential supply interruptions. Our lead time for ordering windows has increased from four to twelve weeks, with siding increasing to three months.
These supply issues may cause disruptions for our customers, but by working together, we can do our best to mitigate or avoid delays entirely. After signing a construction agreement it will be vital that customers work with their Project Manager to complete the selection process quickly. This will enable us to order materials for your job well in advance, even before applying for your permits.
We hope these issues will be short term. The market is expected to level out in the coming months, with manufacturers increasing production and seasonal trends reducing demand.
If you have questions or concerns, please contact your Sales Manager or call us at 301-256-4110.