Prices on building lots have increased substantially even though building costs have increased exponentially. Many builders and those building for themselves are hedging on the fact that building prices will go back down when pandemic is over. However there is that fear – what if they don’t. Building costs have been impossible to predict for over a year. Lack of supply has caused huge fluctuations particularly increases in costs of lumber. All contracts do not guarantee pricing which makes it difficult to budget. Huge delays across the board have been experienced including completion of condo projects. Time is money. Not sure how quickly we can recover.