MISSOULA, Mont. (AP) — The relatively high and stable prices for lumber over the past year have the Montana wood products industry happy but home builders frustrated.
The Missoulian reports Todd Morgan, the director of Forest Industry Research at the University of Montana’s Bureau of Business and Economic Research, says lumber prices went up at the beginning of 2017 and stayed consistently high due to tight supply coupled with high demand.
Home builders are frustrated at the price of lumber because they have to pass on costs to consumers.
Wade Hoyt of Hoyt Homes in Missoula says essentially prices for materials are 25 percent more than a year ago, He says the cost of a home right now is 17-18 percent higher than it was a year ago due to price increases.