North American timber harvesting and mills haven’t caught up to demand generated during the pandemic in 2020 as homeowners took advantage of low interest rates and, for many, money saved during lockdowns to tackle remodeling projects or build new homes.
After a wave of increases last fall, prices for lumber are escalating again, setting new highs this month just as the national construction season starts. The situation is leaving many Michigan builders and suppliers wondering if they’ll be able to buy what they need to meet peak sales this summer.
“We don’t think in the next six month that there’ll be a lot of relief in sight,” Mans said.