“The only constant in life is change.”
That quote by the Greek philosopher Heraclitus has become especially true for contractors and their customers! The cost of building materials keeps going up and down as the pandemic throws more twists and turns our way.
We’re all frustrated with the pricing uncertainty. It’s difficult to plan ahead and even more challenging to explain increases to homeowners.
Fortunately, the manufacturers that Homestead Outdoor Products works with have been very conscientious about keeping us informed. They do their best to provide products reliably and as affordably as possible.
Still, changes happen—upward and downward—when the supply/demand equilibrium goes out of balance.
SCENARIOS WHEN PRICES RISE
- Demand has skyrocketed.
- There are backlogs or bottlenecks in production because of unanticipated demand or a drop-off in the workforce.
- Transport and delivery delays or cancellations occur (of raw materials or finished products).
SCENARIOS WHEN PRICES FALL
- Excess inventory needs to be moved.
- There’s less demand for the products.
- Something new and improved has been introduced to the market.
The evolving pandemic will continue to influence building materials pricing.
SO, WHAT CAN YOU DO?
Stay in the know about where the industry is trending—and watch for notifications from us about any upcoming changes. Some more changes will be inevitable, but find peace of mind in knowing that our free-market economy will help prices level out in the long run.
We’re fortunate to have the advantage of LOTS of supplier competition in the building materials industry, which helps ensure that cost increases aren’t in vain and that decreases will follow when economic conditions improve.