I just had an offer accepted on a house that definitely needs some renovations. I've been checking Lowe's and Home Depot, and I'm shocked to see that so many items are out of stock in various sizes, types, and colors. It seems like prices have skyrocketed compared to a few years ago, especially during COVID. Is anyone else struggling to find supplies? I'm also curious about how much material costs have shot up since January.
4 Answers
As a side note, I've noticed many power tools from major brands have recently increased by about 15-20%. It's crazy how fast prices are changing!
Just a heads up: prices are expected to go up sharply on anything imported due to new tariffs. In this capitalist environment, you know manufacturers will take advantage of any opportunity to boost their profits, so expect to see even higher costs on supplies!
From what I've seen in the wholesale market, almost every manufacturer has jacked up prices, sometimes multiple times this year, with increases similar to what we saw during COVID. Supply chains are pretty steady, but they've definitely taken this chance to raise prices on everything!
Last month, I heard from the folks at Ferguson that I was lucky to snag my supplies then. They believe we're on the verge of some serious price hikes, so it might be smart to act fast if you can!
It's not just supply issues, but tariffs are also playing a big role in driving up costs.