Remodelers say lumber is in short supply

Most remodelers are reporting a shortage of framing lumber, according to the National Association of Home Builders (NAHB).

In the Q3 2020 Remodeling Market Index (RMI), remodelers were asked by the NAHB to report on material shortages, if any, as well as material price changes over the last six months.

About 77% of remodelers reported a framing lumber shortage while 25% said there was a serious shortage. Survey results also showed 52% of remodelers reporting some shortage.

In recent months the price of softwood lumber hit record highs. The Producer Price Index (PPI) for softwood lumber has nearly doubled over the last five months, including a 90.9% increase, which is the largest increase since 1975 for the seasonally adjusted series. 

In addition to framing lumber, 60% percent of remodelers report shortages for three other materials: windows and doors (65%), plywood (63%), and oriented strand board (OSB) (61%).

At least 40% of remodelers also reported shortages for four other materials: millwork (45%), plumbing fixtures & fittings (44%), trusses (43%, and cabinets (41%. 

When it came to the cost of materials, 25% of remodelers reported an increase of 20% or more.

Additional details from the RMI can be found at the NAHB’s Eye on Housing blog.