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
| Oct 19, 2011
Another drop for Architecture Billings Index
Positive conditions seen last month were more of an aberration.
| Oct 18, 2011
Dow Building Solutions invests in two research facilities to deliver data to building and construction industry
State-of-the-art monitoring system allows researchers to collect, analyze and process the performance of wall systems.
| Oct 14, 2011
ACI partners with CRSI to launch new adhesive anchor certification program
Adhesive anchor installer certification required in new ACI 318-11.
| Oct 13, 2011
New Building Materials Label Focuses On Sustainability
Architectural products company Construction Specialities and design firm Perkins + Will have created a label for building materials to shed light on product content.
| Oct 13, 2011
New Law: California Building Standards Commission Must Include Green Expert
A new California law, AB 930, requires that one member of the California Building Standards Commission be “experienced and knowledgeable in sustainable building, design, construction, and operation.”
| Oct 13, 2011
AGC Urges Repeal of 3% Withholding On Government Contracts
The U.S. House of Representatives is planning a vote in October on a bill to repeal the 3% withholding requirement on all federal and state contracts for goods and services.
| Oct 13, 2011
House Bill Would Block New OSHA Regulations
Proposed riders in a U.S. House of Representatives spending bill would block the Occupational Safety and Health Administration (OSHA) from issuing controversial workplace safety and health regulations.
| Oct 11, 2011
AIA introduces five new documents for use on sustainable projects
These new documents will be available in the first quarter of 2012 as part of the new AIA Contract Documents service and AIA Documents on Demand.
| Oct 7, 2011
GREENBUILD 2011: UL Environment releases industry-wide sustainability requirements for doors
ASSA ABLOY Trio-E door is the first to be certified to these sustainability requirements.
| Oct 6, 2011
Taking tenant behavior into account on building energy codes
Over the past few years, Seattle, San Francisco, Austin, and Washington, D.C., have passed laws requiring property owners to measure and disclose their energy use, which would help place a market value on a building’s efficiency and provide a benchmark for improvements.
