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Action 4 Investigates: Lumber Prices Skyrocket
Posted: 04.18.2010 at 11:03 PM
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It's what keeps a roof over your head, but now, it could be what's emptying your pockets.

Lumber is in big demand, and the prices are getting higher.

"From the beginning of the year, we've seen a dollar a month increase," said Joe Rodriguez, McCoy's sales manager.

After the housing market declined, lumber mills across the United States and Canada closed down, but recently, the market is slowly recovering.

Rodriguez said construction is steadily increasing, but there's not enough lumber to go around.

Prices are shooting up because of the shortage of supply.

Rodriguez said in the coming months, lumber prices could increase up to 30 percent.

He said people who hire a builder need to protect themselves from price hikes.

"They need to get with their builder or remodeler to make sure that they have something on paper, so they don't get left with an incomplete project," said Rodriguez.

Rodriguez's advice is to make sure you get an estimate and a fixed price in the contract.

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