300% spike in lumber prices has Abilene family forking over extra $30k to build home

Main News

ABILENE, Texas (KTAB/KRBC) – A nearly 300% increase in lumber prices has some Abilene families who are building homes forking over extra cash.

For those who are building a home, like BCH Sports Director David Robinett, the increase is causing headaches.

Robinett and his wife started the building process almost a year ago, but stalled when prices went up last year.

“We waited for two or three, four months for the prices to go down and they never did,” said Robinett.

The two are finally going to start building, but it’s going to cost them an extra $30,000.

“That was a real kick in the teeth,” said Robinett. “We’ve already sold our house so we could get the extra money for the down payment. Originally, that wasn’t the plan.”

The increase is becoming a problem, not just for these future owners, but the builders as well.

Charlie Bishop deals mostly with commercial buildings in his line of work at Associated Contractors. He too, has had to put several projects on hold.

“A 2/4 stud, where it was 2 dollars and 30 cents, it’s now 9 dollars and 80 cents,” said Bishop.

Some experts believe the reason for the spike could be anything including severe storms, low employment, and a shift in where people are spending money.

“The demand is a whole lot more than the supply right now,” said Bishop.

Bishop says regardless, he doesn’t see an end in sight.

So for the Robinetts, they’re biting the bullet and building, hoping soon they’ll be able to pull up to a house instead of an empty lot.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Don't Miss

More Don't Miss

KRBC News

Trending stories