Warlick says that many people are also moving out of expensive areas of the country to states like Georgia. “The cost of living is a lot less in Georgia than nationwide, so we’re seeing more and more people moving here because they can get more bang for their buck.” Previously experts had predicted the population of Atlanta would double by the year 2050. “COVID has certainly helped expedite that growth and the demand for housing in Georgia.”
Along with all this housing demand, a shortage in both supplies and labor has resulted a rise in prices. “Costs are alarming,” Warlick said. “That’s the thing I’m most worried about. As we’re having this boom in housing demand, we’re also having external forces of rising lumber prices and supplies across the board, with everything from cabinets and appliances to doorknobs and bath hardware.”
In fact, a February article from the National Homebuilders Association reported that lumber prices had hit an all-time high, up more than 170% in the past 10 months. “And they just came out with a study where the average cost of building a typical home (in the range of $225,000 to $275,000) increased $24,000 from April 2020 to February 2021,” Warlick added.
Recent price increases for turfgrasses seem exceptionally modest in comparison to the extreme cost hikes for lumber and other construction materials.