The Floor Covering Weekly reports Armstrong announced a price increase to take effect in July of this year on all solid hardwood and select engineered wood floors in the US and Canada.
They attribute the raise in prices to their own increasing costs due to limited supply of raw materials and a greater national demand. The price increase will be in between 5-7%, and it's likely other manufacturers will follow suit as lumber prices are expected to climb.
Price increases are not uncommon, and it's almost always the customer who ends up paying more when the manufacturer's cost increases. This is not news to anyone and the way it's always been, but if you are in the market for new hardwood, this is a good thing to know. You might want to step up your timeline.
It also never hurts to open up your options. If you haven't considered alternatives like bamboo or cork flooring, you might want to take a look.