Emilie Broughton Real Estate Blog

3 Reasons You Can’t Get Supplies for Your Home Remodel—and Why They Cost So Much!

 

Although the pandemic has spurred many home renovation projects, getting the supplies you need may be harder and it will cost you more.

1. The Home Improvement Craze

The pandemic-driven home renovation craze boosted demand in lumber. Suppliers struggled to keep up. Wood more than tripled in price since spring of 2020. The National Association of Home Builders says the average cost increase for a new single-family home is up more than $36,000 since this time last year.1 

2. Supply Chain Delays

Many recently planned to update their floors with luxury plank vinyl flooring. They will just have to wait. “We are running into a lot of backorders,” says Elisabeth Stubbs Co-Owner Enhance Floors & More, “Imported products (particularly LVP) are often unavailable for 30 to 60 days.” According to the Federal Reserve Bank of Cleveland, factory shutdowns due to shelter-in-place orders last spring led to shortages of products.

As these suppliers began to reopen, labor shortages still persisted, leading to delays in getting goods to where stores or homes. “Even made in USA products are on production delay,” says Stubbs. “Getting products delivered from the manufacturer or distributor to us is also taking much longer than in the past.”

3. Small Jobs Are Impacted Too

Even small jobs are experiencing delays and price hikes. “The skyrocketing lumber prices have largely affected my entire business,” says professional carpenter and founder of Tools’n’Goods, Sean Chapman, “It’s not only me but also fellow contractors, who can’t work on many of their projects because homeowners are apprehensive to order lumber for renovation projects and building new houses.”

Many homeowners have delayed small projects in hopes that prices will fall. Stubbs concurs. “Clients that had gotten quotes in the past that are now ready to proceed are often surprised by the prices having gone up,” she explains, “Some put a halt on the project because of the price increases.” If you want to pay the higher prices to get your project done asap, you will still have to wait. “Even those people who are willing to pay the triple price for lumber parts, often can’t get them due to supply shortages,” says Chapman. 

What the Future Holds

Top economists say to expect lumber prices to remain volatile and shortages to continue with a leveling off in late 2021.  It may be 2023 before it could return to pre-pandemic prices.3 In the meantime, it’s best to make a priority list and really think about what absolutely needs to be done in order to protect the integrity of your home. 

This entry was posted in Blog, Real Estate.
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About Emilie

A transplant from the Pacific Northwest, Emilie has first-hand knowledge of the ins-and-outs of first-time home ownership and remodeling. She has become involved in the local art community and all the diversity Southern California has to offer and more recently has expanded her knowledge to include New Mexico.

Emilie’s passion to be involved in her community led her to become a licensed Realtor and Broker.  She continues to educate herself on different aspects of real estate to support clients with a variety of needs.  She is certified as a Military Relocation Professional (MRP) to work with U.S. Service families and veterans to find affordable housing solutions.

Having worked for both a small boutique firm and a company with a global presence, in 2023 she formed Emilie Broughton Real Estate to work with buyers, sellers, landlords, and tenants in California and New Mexico.

Splitting her time between the Land of Enchantment and the Golden State, Emilie focuses on Los Angeles County and the Greater Albuquerque metro area, helping her clients achieve their real estate goals in both Mountain and Pacific Time Zones.

Emilie represented her region as a California Real Estate State Director for three years.  She has served as President of the Pasadena Foothills Association of Realtors and is a multi-year recipient of the Five-Star Real Estate Professionals Award for the outstanding service she provides to her clients.

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