D.R. Horton secures permits weekly for the monstrous Park Meadows subdivision that eventually will place 1,500 homes in Waco and Midway ISD.
Sommer, at McCoy’s, said first and foremost, demand drives the numbers.
“Central Texas might be the hottest housing market in the country, considering Austin, Dallas and Waco,” Sommer said. “We’re busy everywhere, and we have stores around the state and into Louisiana and New Mexico.”
He acknowledged that year-over-year price jumps are eye-catching.
A report titled “Forest Products & Building Materials Market Trend” provided by Sommer illustrates the steady climb McCoy’s and its customers have seen.
Lumber prices, it says, have gone up 1.3% the past week, 27.4% the past four weeks, 46.7% the past eight weeks and 272% the past year.
Prices on wooden panels have risen 3.2% in a week, 18.2% in four weeks, 37.6% in eight weeks and 306% since this time last year.
“It’s not like this happened all at once, but we’re all shocked by how long they have been up,” Sommer said.
He said McCoy’s serves a diverse customer base, but contractors represent about 75% of those walking through the door.
“These definitely are unusual times,” Patterson said. “We typically see prices stabilize, then go back down. They haven’t done that. Back in the fall, we thought we’d catch a break. Builders up north would slow down, and suppliers up there would help the south. That hasn’t happened. They’re still way behind. Windows to be installed, for example, sometimes delivery is 16 to 20 weeks out. You can get a home built before your windows arrive.”