BUFFALO, N.Y. (WBEN) - A "perfect storm" of events has significantly increased the cost of building materials in Western New York.
The cost of wood, copper, steel, and other building materials has climbed recently due to several factors, meaning those warm-weather projects planned for this year will be more costly for consumers and builders.
"The biggest is an increase in demand," Dominic Cortese of Cortese Construction said. "This is where most people are perplexed. Most of the manufacturers and supply houses did not anticipate that there would be an increase in demand post-COVID. The anticipation was that the marketplace would be shrunk post-COVID until things got back to normal. Then we'd see a return to normal."
But Cortese said once shutdowns were lifted, demand surged and the supply chain was not ready.
There are also still COVID-related issues for manufacturers, such as outbreaks, that have slowed product availability. Transportation delays have also impacted the price.
"We are seeing surges that we have never experienced within this time window here in the spring of 2021," Cortese said. "Lumber has doubled since late-fall. That is unprecedented."
Cortese said he hopes prices get back to normal, but he said those issues need to be fixed, something he doesn't expect to happen for weeks or even months.
Weather across the country has also impacted projects locally. Jen Kuhn, the President of Hamburg Overhead Door, said the freezes in Texas impacted the cost of steel, which they use for springs and drums. Urethane, which is put in the doors to add the insulation, is also facing a shortage due to the Texas freezes.
"We've seen steel prices increase over 130% just from last summer," Kuhn said. "20% just from January. Unfortunately, what we're being told is that it's going to continue to rise."
She was told from suppliers the issues could last all summer and into the fall.
The weather in Texas also impacted insulation for refrigerators. Cortese said the delay of the foam material used could last up to eight weeks.
Both Cortese and Kuhn said that because borrowing rates are at record lows, it's better to act now rather than wait until 2022.
