Data from the National Association of Home Builders shows framing lumber prices have rocketed 26% higher over the past month, and are about double where they stood a year ago. I would advise anyone, unless they have to build now, not to build right now.”. A cascade of delays has led to a shortage of pressure-treated lumber. said lumber prices will dip in the fourth quarter, but come back strong in 2021, boosted by another wave of demand, delayed in part by the current shortage. Many of the shelves lack products, and what the stores do have is displayed in a way to make the racks seem more full than they really are. NEW YORK - Coin currency, aluminum cans, plastic dispenser tops, and pressure-treated wood share little in common during an average July. We are working diligently with the suppliers to meet our customers’ needs. How long will the lumber shortage last? So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. The lumber shortage is not the fault of either retailer, ... Logging companies reduced the number of trees being harvested, lumber mills closed down, and wood did not get pressure-treated. You can’t make a forest grow fast enough to end a lumber shortage. Meanwhile, lumber prices are expected to add $16,000 to the cost of a typical house. A cascade of delays has led to a shortage of pressure-treated lumber. Others were forced to quarantine, and measures to prevent the spread of the virus slowed output. It also affects contractors who can't start or finish their projects. I would like it to have (OST) removed. COVID-19 infections and precautions earlier this year shut down lumber mills, creating a shortage in supplies, particularly in pressure-treated wood. A shortage of lumber is affecting the North American construction industry in what's usually its busiest time of the year. OCEAN CITY — Due to a nationwide shortage of treated lumber because of COVID-19, the first phase of the major re-decking project on the Boardwalk planned to … DELAWARE COUNTY, Pa. - An extreme shortage in pressure treated wood … “There’s panic buying. Shortage of pressure treated lumber creates issues for construction projects FOX 29's Chris O'Connell reports. By Mike Mohundro | August 24, 2020 at 5:08 PM CDT - Updated August 24 at 7:11 PM . How to Get Paid During a Lumber Shortage. ... the phone begins ringing from people looking for pressure-treated lumber. Because professional contractors have long been Home Depot's primary customer target, the building materials segment is its biggest contributor to revenue, accounting for $9.8 billion in revenue last quarter, and it enjoyed a 4% sales increase last quarter. Similarly, Lowe's also saw a spike in demand, even though the contractor has been a relatively recent area of attention. Rich has been a Fool since 1998 and writing for the site since 2004. "If you can find, you can do it, you know. We currently have chickens (this is the first year we hatched our own), ducks, and geese with Nigerian Pygmy goats and KuneKune pigs arriving next month. A great way to end the weekend. Lowe's sales were up 11% to $19.7 billion on a 12.3% increase in comps. We have over 30k in jobs now stalled because we simply can’t get treated lumber. Shortage of pressure treated lumber creates issues for construction projects FOX 29's Chris O'Connell reports. A lumber shortage has pushed prices to record highs as builders stock up for what is expected to be one of the busiest construction seasons in years. Reach Rich here. The lumber shortage is not the fault of either retailer, but yet another bit of collateral damage from the coronavirus pandemic. Right now, there is a national shortage of lumber, especially pressure-treated wood. Over the past few years, lumber prices have skyrocketed. The demand for lumber is so high that all of the wood, is sold! Stasiunas says the jump in lumber prices is unlikely to damage the high end of the market, where a $20,000 to $30,000 increase in materials won’t derail a $1-million custom home. 10) Pressure treated lumber is resistant to attack by termites and carpenter ants. “We have an exposure of thousands of dollars of loss per house we are building, because we are locked into contracts signed six and seven months ago.”. A shortage in pressure-treated lumber is causing delays and higher costs for home renovation projects, a situation one industry group says is unlikely to improve for months. Most of my customers, I mean, we don't do a lot with the lumber part of it all, but no, it's a struggle, no matter what you're doing. Posted at 2:48 … Pressure-treated wood has become a hard-to-find commodity because of the pandemic. Now, pressure-treated lumber is the hot commodity due to COVID-19. According to the National Association of Home Builders, prices went up by 30% between Hurricane Harvey in August 2017 and January 2018. The lumber mills have to ramp production back up to increase the supply, which is unpredictable at best. ... We appreciate your patience while we work through this temporary shortage and we hope to see an end … While sheet goods were somewhat better, pricing on even the cheapest grades of plywood were exorbitant, and it was like that at several of the area DIY centers I visited. John Marcantonio, executive director of the Rhode Island Builders Association, said the strong residential real estate market is helping the economy bounce back, and he worries the lumber shortage could slow the recovery. 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