According to madisonsreport.com, lumber prices have went up 50% to over 200% from a year ago. It all depends on the type of wood and where you’re getting it. Either way, lumber prices are at record levels nationwide.
There are a couple of reasons why the price is so high these days. For starters, more houses are being built and when everyone was in shutdown mode this Spring, more and more people decided to plan remodeling projects. Secondly, there were transportation issues because of the coronavirus as well. One of the big issues was that a lot of lumber mills were shut down for a month or two. The good news is that the majority of mills are back up and running at full capacity, but that downtime took a toll.
Some companies are saying that currently, it’s taking a lot longer for them to get certain types of lumber from distributors. Even with the high prices and the delay on receiving the lumber, that’s not stopping people from ordering it. Business couldn’t be much better for lumber companies at this point.
Comments