COLORADO SPRINGS, Colo. (KRDO) -- The Housing & Building Association of Colorado Springs says reports of job site theft are increasing in the Pikes Peak region as lumber prices continue to skyrocket.
The Pikes Peak Area Crime Stoppers and The Housing & Building Association of Colorado Springs set a conference Thursday to discuss the steps they say are being taken to help stop the increasing theft of building materials on job sites.
According to Business Insider, spot lumber prices rose by 250% in the last year. Estimated prices are $1,200 per thousand board feet. That would add $24,000 to the price of an average new single-family home, the National Association of Homebuilders says.
Experts say prices have surged as mills closed for periods of time during the COVID-19 pandemic. Demand has also increased as people did home-improvement projects during quarantine.
The Housing & Building Association of Colorado Springs says theft is adding to the cost of homes and delaying builder’s ability to deliver more homes to meet the community’s housing needs.