2.5x increase in lumber and plywood prices impacts rehab budgets

[Kevin Mirise]

Didn't realize lumber prices had gone up so much, with no sign of coming back down anytime soon:

"The Random Lengths Framing and Structural Panel Price Composites have risen to $1016 and $1006 vs. $418 and $413 respectively from this time last year. This translates into lumber and plywood costing 2.5 times what it did one year ago. With housing starts higher in the last two months than at any time since 2006 coupled with the mills' inability to increase production due to a lack of logs and workers, prices continue to climb."

Make sure to double check your construction budgets on upcoming rehabs.