MEMPHIS, Tenn. — Planning on building a fence, gazebo, or even a new house this summer?
You might have a sticker shock when you go but supplies.
A lumber shortage is sending prices sky high.
At one East Memphis home improvement store, customers walking out with lumber are left wondering what is going on with lumber prices.
"I'm still trying to figure out why it's high. I bought a piece of plywood yesterday - some cheap press board - $42," said roofer Kenneth Jones.
"The sticks and bricks - they cost what they cost," said home builder Dwayne Jones.
Jones is in the middle of building a house in South Memphis. Jones said this price hike can make or break if someone can afford building a new home.
"When you are talking about those types of increases, you are talking about a significant amount of money added onto the cost of a project," said Jones.
Jones blames supply chain shortages, along with the increase in demand for home improvement projects because of the pandemic.
"A lot of people are adding on putting in fence, gazebos, accessary dwelling, cottages in the back," said Jones.
Here's how lumber prices have gone up in the Memphis area.
According to Eubanks Lumber in Memphis, a 1/2 inch sheet of utility grade plywood is selling for $48 a sheet. A year ago, it sold for $16.99.
OSB board right now its selling for $45 a sheet compared to $10.99 a year ago.
Jones said it is not just the price of wood that gone up.
"Anything that is construction related has been a significant increase - from concrete to drywall. The labor is the same but material is unreal," he said.
Jones said downstream there could be issues with appraisals - which may not keep in line with materials cost.
"What you see on DYI or HGTV is not real life. You actually have to price the market on where you live and you can't look at the TV and price your projects."