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
| Mar 18, 2014
Canadian wood industry pushes for ‘wood first’ legislation on mid-rise public projects
The wood lobby is pushing Canadian provinces to pass “wood first” legislation specifying wood framed structures as the default for mid-rise public works projects where warranted.
| Mar 13, 2014
USGBC hits back at Environmental Policy Alliance criticism
The Washington, D.C.-based Environmental Policy Alliance has launched a campaign to make the claim that LEED-certified buildings are less energy efficient than other buildings. In response, USGBC told its members: "Don’t be fooled, the Environmental Policy Alliance isn’t the 'EPA' you might think."
| Mar 13, 2014
North Carolina board recommends switch to six-year code update cycle
In a nine to six vote, the North Carolina State Building Code Council on March 11 approved moving the commercial building code (except for the electrical code) to a six-year cycle for updating instead of a three-year cycle.
| Mar 13, 2014
OSHA’s funding disclosure requirement for those offering silica rule comments draws ire
The Occupational Safety and Health Administration is requiring those who submit comments on the silica rule to disclose their funding sources for their scientific research to avoid conflict of interest.
| Mar 13, 2014
EPA publishes ‘best management practices’ rule on erosion, stormwater at construction sites
The Environmental Protection Agency published a new rule this month that will require the construction, housing, and utility sectors to carry out "best management practices" in order to prevent erosion and harmful stormwater discharges at construction sites.
| Mar 5, 2014
San Francisco board seeks remedies to code enforcement complaints
Two supervisors charged that a lack of adequate code enforcement has led to blight from dilapidated or unfinished buildings.
| Mar 5, 2014
Obama proposes $1 billion for climate change risk mitigation
President Barack Obama would spend $1 billion to “better understand the projected impacts of climate change,” encourage local action to reduce future risk, and fund technology and infrastructure that will be more resilient to climate change.
| Mar 5, 2014
Southern Forest Products Assn. revamps pressure-treated pine specifications
It provides information to assist with the proper specification and use of pressure-treated Southern Pine materials.
| Mar 5, 2014
UL, PRI Construction Materials Technologies reach product certification agreement
Underwriters Laboratories (UL) Inc. reached an agreement with PRI Construction Materials Technologies LLC (PRI) through which PRI will participate in UL's "Data Acceptance Program," enabling the acceptance of data generated at PRI toward UL product certification.
| Mar 5, 2014
Quebec's building code doesn't meet needs of its aging population
The issue was raised in the wake of a tragic fire at a seniors' residence in L'Isle-Verte.
