It’s been a wild ride in 2020 for the U.S. timber industry, and the run up in prices shows no sign of easing.
First, mills temporarily shut down in March due to the COVID-19 pandemic. Then, in September in the timber nexus of the Northwest, wildfires have burned out of control threatening some timber plants.
After the COVID shutdown, homebuilders embarked on a surge of new house starts, while many homeowners took on home repairs and remodeling jobs during quarantine. The result has been a dramatic spike in demand accompanied by a supply shortage.
Lumber futures have climbed 50% this year, with prices on pace for the largest gain since 1993. The fires have prompted logging bans, closed railroad lines, and shuttered mills. Lumber commodity prices are expected to continue to be high well into 2021.
The average price of a new multifamily home has increased by $6,107 from mid-April to August due to higher material costs.
Related Stories
Codes and Standards | Jun 21, 2017
Senate bill would prohibit tax money for sports stadium projects
Bipartisan legislation would prevent use of municipal bonds by pro teams.
Codes and Standards | Jun 19, 2017
Developer, architect hit with $10 million construction defect verdict
Case pertained to construction of condo development that was not fire code-compliant.
Codes and Standards | Jun 19, 2017
Green building advocates erect icehouses on Penn. state capitol steps to make point on codes
State’s codes have not been updated since 2009.
Codes and Standards | Jun 15, 2017
Cornell Tech unveils plans to reach Net Zero at The Bloomberg Center
Campus plans include photovoltaic arrays and geothermal ground source heat pumps.
Codes and Standards | Jun 13, 2017
Canada Green Building Council and Green Business Certification Inc. announce partnership
New joint venture will deliver enhanced services and support tools and programs throughout Canada.
Codes and Standards | Jun 8, 2017
Nail-Laminated Timber Design and Construction Guide released
New document focuses on design and construction considerations for horizontal NLT applications.
Codes and Standards | Jun 8, 2017
Car sharing popularity means parking zoning and codes may be promoting overbuilding of garages
Some designers look to modular designs in anticipation of alternate uses.
Codes and Standards | Jun 7, 2017
IAPMO advances toward new 2017 Water Efficiency and Sanitation Standard
Revised pipe-sizing method for residential applications will be included.
Codes and Standards | Jun 7, 2017
New Colorado law could stimulate stalled condo market
Construction defect law modifications could ease litigation risk and cut insurance rates.
Codes and Standards | Jun 6, 2017
New York City will require construction superintendents on buildings higher than three stories
New laws focus on construction safety.
