Lumber prices just one of many factors driving ‘crazy’ PG housing market

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McConnachie says one of these factors can wreak havoc on the housing market, let alone all of them at once creates a housing market Prince George is not used to seeing.

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For first-time home buyers, it’s a full-on nightmare at times according to mortgage brokers and realtors in the city.

There is no timeline, on when any of these factors could begin to change with RONA Prince George saying there’s a small chance the fall may bring relief, but are still unsure.

“Getting materials has been a challenge at times,” says Al Jones, General Manager of RONA Prince George. “If we put in an order for lumber today, we won’t see that lumber in the yard until August or September.”

Jones says there will be materials available but don’t be surprised when the price is more than what you expected.

A half-inch sheet of plywood that was $20 last year, is now selling for $65, with an increase of about triple of a two-by-four as well.

All of those prices are eventually injected into the housing market, where new homes become more expensive to build by thousands of dollars.

This comes as the average house price in Prince George saw a jump of over $30,000 in 2020 compared to 2019.