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
| Feb 17, 2014
Channeling weather forecasts to building systems can yield significant energy savings
Using weather forecasts to predict outdoor temperature changes can lead to significant energy savings, exceeding 10%, researchers say.
| Feb 17, 2014
Lawmakers may take away control of Florida hospital project from the VA
The project is $100 million over budget and has missed its scheduled completion date.
| Feb 17, 2014
Business, labor at odds over toughening of OSHA silica dust rule
OSHA says the rules will protect workers and prevent 700 fatalities annually. Others say the rules would hurt businesses and jobs.
| Feb 17, 2014
Tulsa, Okla., mulls code change to require storm shelters in new schools
State and city officials are pushing for increased bonding capacity to pay for the storm shelters.
| Feb 13, 2014
Appraisal Institute issues guidelines on evaluating green property
The Appraisal Institute and the Institute for Market Transformation have issued guidelines for training property appraisers to evaluate green buildings.
| Feb 7, 2014
New LEED Dynamic Plaque system will measure building performance
The U.S. Green Building Council recently unveiled the LEED Dynamic Plaque, which is a new system designed for benchmarking and comparing post-occupancy building performance on a global scale.
| Feb 7, 2014
Los Angeles officials struggle to deal with needed seismic retrofits
Sixteen years ago, the Los Angeles City Council decided against requiring retrofits of existing buildings because of the projected cost and the threat of losing 20,000 apartment buildings.
| Feb 7, 2014
Los Angeles officials struggle to deal with needed seismic retrofits
Sixteen years ago, the Los Angeles City Council decided against requiring retrofits of existing buildings because of the projected cost and the threat of losing 20,000 apartment buildings.
| Feb 7, 2014
EPA, Freddie Mac collaborate on energy- and water-efficient apartments
Freddie Mac will gather data on energy and water use from property owners, and encourage lenders to spend on energy-efficient investments for multifamily housing.
| Feb 7, 2014
ASHRAE releases new refrigerant standards
The 2013 editions of ASHRAE’s major refrigerants-related standards, incorporating 41 new addenda, have been published.
