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 | Feb 14, 2017
Paper outlines how BREEAM credits can be used for WELL standard compliance
The paper provides guidance on how to streamline pursuit of dual certification.
Codes and Standards | Feb 14, 2017
Evidence mounts on health, productivity benefits of sustainable work spaces
High-performance green buildings are linked to better job performance.
Codes and Standards | Feb 13, 2017
Calif. commission approves ‘emergency’ balcony code changes
The changes apply to multifamily, hotels, state-owned buildings, and public schools.
Codes and Standards | Feb 9, 2017
Google-initiated program aims to get construction industry to use healthier building materials
Portico platform features a database of products ranked on how they disclose ingredients.
Codes and Standards | Feb 7, 2017
Newer structural standards mitigating earthquake impacts in Oklahoma
Buildings constructed in the last two decades are largely holding up to increased seismic activity.
Codes and Standards | Feb 6, 2017
New York State offers $36 million for energy efficiency on commercial buildings
Programs will provide money for both owners and renters.
Codes and Standards | Feb 6, 2017
New white paper on modular bathroom pods offers insight on best uses
When to use them, cost, and installation are issues that are explored.
Codes and Standards | Feb 3, 2017
Justice in Design initiative to explore how to design a modern jail
The report will inform design principles for New York City jails.
Codes and Standards | Feb 1, 2017
Massachusetts, Colorado, Illinois lead annual Top 10 States for LEED Green Building list
LEED for Building Operations and Maintenance the most popular rating system in top 10 states.
Codes and Standards | Jan 31, 2017
Planning for world’s first floating city underway
New approach to resiliency examined in French Polynesia.
