Don’t Waste Your Money: Rising Furniture Costs

CHARLOTTE, N.C. – With the holidays over, many people are looking to spruce up their homes for spring. And that often means some new furniture.

But watch your budget, because major furniture sellers are raising prices again this new year.

In 2021, it was all about furniture shortages, as store manager Nick Daniels told us last September.

“We have some things coming from Asia where we are now waiting a year,” he said.

In 2022 those shortages are finally starting to ease.

But prices are up, sharply in some cases. IKEA has just announced it is hiking prices an average of 9 percent. But The Guardian, using prices from last year’s catalog, claims IKEA’s Malm desk is up 50 percent.  And it claims the popular Hemnes bed is up 30 percent.

IKEA tells The Guardian it is simply passing along supplier price hikes, and says its furniture remains very affordable.

But from the Doesn’t that Stink file, the soaring cost of moving into a new home.

Home prices are up 20 percent in the past year, more in hot markets. It’ll cost you 10 percent more for furniture for that new house, according to the government, and 9 percent more for appliances. But wages only grew 3 percent in 2021, which may leave you saying “doesn’t that stink.”

It might be worth checking some used furniture stores, where you may be able to find a used kitchen or bedroom set for much less, and as a bonus, it will be in stock.

As always don’t waste your money.