Lumber Prices Skyrocket, Impacting Home Construction Prices in Charlotte

CHARLOTTE, N.C. – Your next home project could cost more than you planned.

The price of lumber has skyrocketed 250 percent over the past year, according to the National Association of Home Builders.

Lumber mills shut down across the country and now there’s not enough supply, causing prices to go way up.

It’s also impacting home building organizations like Habitat for Humanity.

“Everything in residential construction is made out of wood or a great majority of the products are,” says Bob Glusenkamp, VP of Construction Operations for Habitat for Humanity of the Charlotte region.

The average new single-family home now costs $24,000 more than it did a year ago, according to NAHB.

The National Association of Home Builders is lobbying lawmakers to urge lumber producers to ramp up production.