Unfortunately, the COVID-19 Pandemic has caused shortages and price increases in every material we use to build a Maronda home. Lumber prices hit historic highs last Fall, with availability becoming an issue. As a result, Maronda Homes switched from lumber framing to steel framing on multiple floor plans offered across our Florida communities and subdivisions to be proactive and keep our construction process on the best trajectory.
Historically, steel was cost-prohibitive in these types of homes. When we decided to make the switch, steel was trending at a price of about $350 per ton. We officially went live with steel studs in January of 2021. In mid-January, an article was published that predicted steel prices could rise as high as $1,000 per ton by the end of 2021. Then, in February of 2021, another article was published showing steel prices are now over $1,100 per ton, with allocation looming in the future.
Whether you are looking at steel or lumber, framing our homes has increased exponentially in price and wait time. Homeowners who contracted in Q3 of 2020 did so with lumber at a record high of $300 per board foot. However, today, lumber is well over $1,000. Steel is now in the same boat. Both are scarce and similarly priced. As a result, the cost of framing materials to erect our homes has increased by approximately $13,000 per home.
We appreciate your patience and your support as we all navigate these unchartered waters. We are working hard every day to produce a high-quality house that you will be proud to call home. Please understand the delays we are facing are unprecedented and due to industry price increases and material shortages. Thank you for choosing Maronda Homes.