Commercial Contractor Concern Over Lumber and Steel Shortages is Growing in Q3

The rising percentage of construction firms that report facing material shortages is matched by a growing portion of firms concerned about higher costs

U.S. Chamber of Commerce
Us Chamber Q3

An ongoing shortage of lumber due to the coronavirus pandemic is leading to headaches for builders and contractors. Last week, the U.S. Chamber of Commerce Q3 Commercial Construction Index revealed that wood/lumber is the most reported material shortage at 11%, jumping from just 5% in Q2. Additionally:

  • 62% of contractors say cost fluctuations for materials have a high or moderate impact on their business, up from 59% in Q2. 
  • 41% of those who expressed concern are concerned about steel, up from 33% in Q2. 21% are concerned about price changes in lumber. 
  • 54% face shortages for at least one material, up from 45% in Q2.