Just as the for-sale housing market is expected to remain competitive (translation: higher prices) this year, the focus on maintaining and upgrading homes is expected to continue.
According to Leonard Ang, CEO of online real estate guide iProperty Management, “The overall trend has been for higher prices across the board. There have been serious supply and labor shortages in the home repair sector, and with more people working from home…people are better able to notice issues with their homes.”
Take lumber costs, for example. Prices then dipped to the low-mid $400s during the summer and then went back up to the $600s in October, until prices jackknifed up to mid-$900s in late November.
Also in late November, the Biden Administration announced it would reimpose and increase Trump era tariffs on Canadian softwood lumber…