I’ll be building a new home in Kentucky later this year and I’ve spoke with a couple builders and they’re telling me the material cost to build one has went up 20-25,000 over the past year.
Lumber, Doug Fir #2 and better was around $350 per thousand before covid. For the last few months it has been selling for around $1000 per thousand. This is according to my buddy the lumber sales manager. Southern Yellow Pine is usually nowhere nearly as expensive as Doug Fir, but I bet it's up a bunch as well.
Lumber is only about 5% of the cost of a house. However, most industries are sized to their current market. So when the covid shutdown came it put a three month hole in the production of a lot of stuff, and they doesn't have the excess capacity to catch up.