Updated: Jun 24, 2021
As of June 11, the lumber cost is decreasing due to a slight decrease in demand. Experts are still accessing how long the duration and strength of the drop will be as US housing starts, the beginning of construction of a new house, rose 3.6% in May, but building permits for future homebuilding fell 3%.
Previous costs had increased due to the demand for construction materials in Q1 & Q2. In addition to demand, weather and transportation have also impacted product availability making it extremely important to develop a detailed plan for your renovation or ground-up custom build.
Lead time constraints is extremely important to account for while planning for your renovation or custom home build. Vinyl window, locksets and interior trim currently have long lead times, with vinyl windows having a 15-week average lead time.
Demand coupled with production issues created the perfect storm for construction materials. However, while demand is still strong, it has shown signs of slowing. This makes right now the perfect time to begin perfecting your home design and pre-planning your project, so you’re ready to take advantage of price drops as material demands stabilize.
Review the full Building Materials Marketing Information report from one of our vendors, 84 Lumber, here.