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.