Since memorial times, wood has been one of the most used construction materials when it comes to starting a new project, both for its beauty and versatility, and as well for its availability.
The United States is known for its lumber industry, and for this reason, wood prices were always among the lowest in the construction materials market.
At present day, due to the covid-19 pandemic, the construction sector is growing. Against all odds, there has been a surge in home renovations and construction to make them more comfortable and adaptable to the new reality. One of the most demanded materials is precisely wood, which in turn, has made its prices skyrocket.
The demand for wood to create products such as separators to divide offices or for flooring, furniture, kitchen cabinets, countertops, etc. is increasing every day, and the lumber industry is struggling to meet all these demands.
These are the main reasons causing the increase in wood prices
- The closure of sawmills and wood processing plants: since the beginning of the pandemic this has been one of the primary factors in the increase of wood prices due to the inability to pay employees, sales stagnation, and major losses. This situation has made it difficult for the lumber industry to achieve the necessary wood production.
- Unexpected cold wave delayed wood imports from Canada: Canada has always been one of the main suppliers of wood to the United States, however, when this unexpected and long cold wave occurred, previous commitments made with this country could not be met, making it another reason for the increase of prices of this material.
- Home confinement made people aware of improvements they needed to make at home: this is the main reason why wood prices are going up. For people, spending long periods at home has awakened the desire to make renovations, causing the demand for wood to increase, and consequently, its prices, too. In this case, “the greater the demand, the greater the price” is caused by imports, transportation, biosafety protocols, and others.
- Restaurants, bars, and public places began to adapt their businesses: this is another reason for the increase in wood prices. During the pandemic, every business owner wants to adjust to the new normal and continue working while following safety measures. For this purpose, a myriad of elements in the hospitality industry like outdoor tables, common area separators, and cashier booths are required.
- Many people started building houses with the spaces needed for the new reality: mortgage rates have gone down, causing people to look for larger houses where work, leisure activities, housework, and education can coexist, besides achieving a total state of comfort. Unsurprisingly, wood is the most solicited material to carry out those projects.
If you are looking for expert advice to develop your project, be it construction or remodeling, At Dream Home Builders and Remodelers, we will gladly advise you; and if you need our professional services, count on us, we are happy to support you.