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 | Nov 28, 2021
Efficient electric water heaters in multifamily buildings significantly reduce carbon emissions
In buildings with 5+ units, water heating uses more energy than space heating, cooling, or lighting.
Codes and Standards | Nov 23, 2021
New York’s Labor Law Section 240 and how it affects general contractors
The ‘Scaffold Law’ was first enacted by the New York State Legislature in 1885 and is one of the single most-used laws in construction accident cases.
Codes and Standards | Nov 22, 2021
ABC’s Construction Technology Report finds focus on solving operational problems
More than half rely on project management software.
Codes and Standards | Nov 22, 2021
Contractors say 811 utility location system has significant flaws
More than half of firms in survey report damages, near misses because lines were unmarked or marked incorrectly.
Codes and Standards | Nov 19, 2021
Creating net-zero/net-positive buildings is top priority in Green Building Trends 2021 report
Findings also demonstrate compelling business case for building green.
Codes and Standards | Nov 19, 2021
Construction Startup Competition 2021 awards highlight tech innovations
AI-powered software to identify and explain critical issues in construction contracts takes top prize.
Codes and Standards | Nov 18, 2021
Infrastructure bill contains $5 billion for energy efficiency in buildings
Wide range of programs to reduce energy use, improve materials, train workers.
Codes and Standards | Nov 17, 2021
Skanska will provide embodied carbon assessments on all new projects over 53,000 sf
Will use the Embodied Carbon in Construction Calculator it helped create.
Codes and Standards | Nov 16, 2021
NOAA, Univ. of Maryland, and ASCE partner on climate-smart engineering codes, standards
Efforts will account for climate change in future infrastructure design and construction.
Codes and Standards | Nov 15, 2021
Intl. Code Council and Modular Building Institute release new off-site construction standards
‘Will create consistency for off-site construction; accelerate the industry’.
