If you are thinking of starting a springtime construction project, like building a house, deck or shed, you may want to examine your wallets before diving in.

Lumber prices have jumped in the past couple of months due to slower production of lumber at wood mills.

Tom Allen from Allen Lumber in Saint Johnsbury says that there has been around a 3% increase for the price of lumber at his store.

The manufacturing of lumber has slowed down at wood plants across the country due to the sluggish housing market. Some wood mills have even stopped the production of lumber.

Contractors are not building houses as much as they did two or three years ago because there is no demand for new housing.

Prices of lumber usually fluctuate every month or two and Allen predicts that the prices will stabilize again, right in time for his busiest time of the season.

According to the Association of General Contractors, there are around 140 active contractors in Vermont.

News7's Jared Richardson explains in more detail.