Lumber prices have jumped 180% since last spring, according to the National Association of Home Builders. “2X4's were $2.80... under $3. Now they're around $10 dollars per board, so I mean a drastic increase,” said Tim Bogdanets from Leon Construction.

This increase adds a $24,000 price tag to new homes on average.

There are a lot of factors that go into building material price increases. One major factor is supply and demand. With many working on home projects consistently for the last year, the demand far outweighs the supply. “I know that a lot of plants closed down, and that obviously caused a shortage. And like I said, supply and demand, so if there's a shortage of siding, prices go up,” said Bogdanets.

Despite the price hike and the pandemic, local contractors are still saying busy. "I'm about a week behind on estimates and quotes. We were certainly not that busy before,” said Myroslav Omelchanko from Unified Contracting. They work on everything from installing siding to repairing roofs. They say the high prices are difficult for some to pay.

“We literally had a customer who was asking us if he should try and wait on replacing his roof deck or if he should try to hold off on the roof completely to try to get it done, simply because of the triple price he has to pay on his deck,” said Omelchanko.

Lumber prices are projected to keep rising. Leon Construction says you should move now, if you want to save money. "If you want to get somewhat of a deal, sign right now and lock in the price. That way you're not going to have to get the proposal requoted two months later and you'll see a couple hundred dollar increase,” said Bogdanets.