Building Material Prices Rise
Purchasing and building a new home hasn’t been simple this past year. Fueled by historically low interest rates during a global pandemic, demand for new homes has skyrocketed. All the while, prices for softwood lumber, concrete and gypsum, all key building materials, have increased exponentially, causing home prices to increase. This is due to supply chain disruption caused by the pandemic and Canadian lumber tariffs. Because of these factors, the median cost of a new home in 2020 increased by more than $16,000, according to the National Association of Home Builders.
A positive factor is that by building with Virginia Building Solutions, there is less price fluctuations due to that modular production facilities buy their building materials in bulk. Because inventory is carried, instead of buying per job as in site builders do, modular builders can maintain prices for longer length of time.
To find out more about the impact of the increase of building materials, visit EyeOn Housing.org and ModCoachNews.com. For more information about building a new home, contact Virginia Building Solutions at info@vabuildingsolutuions or 855-870-4663.