Record Lumber Prices

With lumber prices reaching a near all-time high, building a new home will become far more expensive. Canadian homebuilders are predicting that the cost of building a single family home will increase by $8,000 to $10,000. Many builders are in the works of passing these increased costs onto their customers to make up for losses.

The most important factor contributing to increased lumber costs is the drop in supply. Canandia lumber production decreased by 18.9 percent. Due to the wild fires and pine beetle infestations in British Columbia, several mills were shut down for all of 2020, decreasing the province’s lumber production by 26.2 per cent.

The lumber shortage and rise in costs means that the price of building houses all over the country is going to increase rapidly. Builders can’t afford to cover the lost revenue from the high cost of building supplies, and they will need to pass those additional costs onto their customers.

Maple Way’s prices are currently fixed for the next 45 days, so it’s the perfect time to buy! With mortgage interest rates at a near all-time low and the affordable costs of a Maple Way home, you can get the best home at the best price. With Edmonton’s most affordable prices of houses starting at $279k! Get the best home at the best price with Maple Way.

Information and research from the CBC article, "Record lumber prices adding thousands of dollars to new home building costs". To read more visit: https://www.cbc.ca/news/canada/calgary/lumber-wood-kevin-mason-dave-desormeaux-jayman-built-homes-1.5687201