flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

No ease of lumber price spikes in sight

Codes and Standards

No ease of lumber price spikes in sight

Wildfires strike Northwest timber industry in wake of Covid-19 shutdowns.


By Peter Fabris, Contributing Editor | September 21, 2020

Courtesy Pixabay

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

Legislation | Mar 16, 2022

Weak federal commercial real estate rules will hamper seizing Russian assets

Lax disclosure regulations that have made the U.S. a global hot spot for money laundering via real estate holdings will make it difficult for officials to seize properties from Russian oligarchs.

Codes and Standards | Mar 15, 2022

First company awarded Fitwel Certification in Senior Housing for Occupant Health & Wellness

The Springs at Greer Gardens in Eugene, Ore., is the first property to earn a Fitwel global health certification under the newly created senior housing scorecard.

Codes and Standards | Mar 10, 2022

HOK offers guidance for reducing operational and embodied carbon in labs

Global design firm HOK has released research providing lab owners and developers guidance for reducing operational and embodied carbon to meet net zero goals.

Codes and Standards | Mar 7, 2022

Late payments in the construction industry rose in 2021

Last year was a tough one for contractors when it comes to getting paid on time.

Codes and Standards | Mar 7, 2022

Massachusetts proposed energy code changes don’t ban gas

Proposed changes to the Massachusetts energy code would provide incentives for builders to fully electrify buildings, but not impose a ban on natural gas hookups.

Codes and Standards | Mar 4, 2022

Construction industry faces a 650,000 worker shortfall in 2022

The U.S. construction industry must hire an additional 650,000 workers in 2022 to meet the expected demand for labor, according to a model developed by Associated Builders and Contractors.

Codes and Standards | Mar 4, 2022

FAA offers $1 billion in grants for airport terminal and tower projects

The Federal Aviation Administration (FAA) is now accepting applications for about $1 billion in grants for airport projects during fiscal year 2022.

Codes and Standards | Mar 1, 2022

Engineering Business Sentiment study finds optimism despite growing economic concerns

The ACEC Research Institute found widespread optimism among engineering firm executives in its second quarterly Engineering Business Sentiment study.

Codes and Standards | Feb 28, 2022

Low-cost concrete alternative absorbs CO2

Researchers at Worcester Polytechnic Institute have developed a new CO2-absorbing material that’s a low-cost alternative to concrete.

Multifamily Housing | Feb 25, 2022

First set of multifamily properties achieve BREEAM certification in the U.S.

WashREIT says it has achieved certification on eight multifamily assets under BREEAM’s In-Use certification standard.

boombox1
boombox2
native1

More In Category




halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021