Lately the massive spike in lumber prices has been all over the news. Since it’s rare for construction issues to become significant enough that they

Lumber Price FAQ - Construction Physics

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2021-06-27 15:30:06

Lately the massive spike in lumber prices has been all over the news. Since it’s rare for construction issues to become significant enough that they penetrate mainstream publications, I thought it would be useful to put together a FAQ about what’s been happening in the lumber and building materials world.

Lumber prices are up, way up. The price per 1000 board feet is the highest it’s ever been by a large margin: over $1600 per 1000 board feet as of this writing, up from $400 per 1000 board feet in January 2020.

The price spike is affecting nearly every wood-based product. Prices for dimensional lumber, plywood, and OSB are all way up. My 2021 construction estimator lists a sheet of 7/16” OSB as costing around $12.00; the current price on Home Depot is nearly $40. And the price increase is nationwide - both southern yellow pine (used more in the eastern and southern US) and doug fir/SPF (used more in the west) show similar spikes:

In many cases, materials can’t be obtained at all. Construction schedules are being pushed out and materials are being substituted. Manufacturers are declaring force majeure as a result of being unable to deliver products. In some cases builders are refunding or cancelling buyers’ deposits as they aren’t able to predict when they’ll be able to obtain things such as cabinets, wall sheathing, windows, or roofing materials.