DENVER (AP) — A nationwide surge in lumber costs is affecting home buyers and homeowners in Colorado.
Ali Wolf with the housing market research firm Zonda says lumber prices are up 250% compared to a year ago, driving up construction costs.
Colorado already had some of the hottest real estate markets in the U.S. Now, lumber prices are contributing to a home price surge that shows no sign of slowing.
The surge follows predictions of a pandemic-related housing slowdown that never came to pass.
Wolf tells The Denver Post last year’s COVID-19 lockdowns made people want homes that meet their evolving needs.