Lumber Prices on the Rise
The increase in lumber prices that has impacted new home construction in 2020, will continue into 2021, according to a recent CBC report.
The CBC report quotes mostly national numbers, but increased lumber costs have rippled through our local market as well. In the Winnipeg area, base pricing on new homes has seen an increase of approximately 5 - 7 %, since June 2020.
When the lumber price increases will slow, or where a plateau in pricing will end up, no one really knows. But if you are considering a new home build in 2021, my recommendation would be to make a commitment and lock in your pricing sooner than later. The savings to your bottom line will most likely be significant . . .