As DIY projects are in high demand, lumber prices are skyrocketing

The prices for lumber have had a trickle effect on prices for other materials like drywall and even home prices

Posted: Apr 17, 2021 4:15 PM

MASON CITY, Iowa - During the pandemic, many folks took advantage of being homebound by engaging in DIY home repairs, whether adding a garden, painting a room or two, redoing carpets, put up new siding, or adding on an addition to the home. A year later, prices on lumber have skyrocketed, and it's likely that increase will continue.

According to the Builders Association of Minnesota, the price of lumber is up nearly 200% from a year ago. Because of that lumber price jump, a report from the National Association of Home Builders shows that the average price of a single-family home increased by about $24,000 since last April. For the cost of 2 x 4's, the May futures contract price jumped to $1,100 per thousand board feet. Outside of lumber, the cost of materials like metal and drywall have also increased, while availability has become scarce.

Mason City contractor Larry Elwood has been in the construction and home improvement business for over four decades. He cites the pandemic shutting down mills and cutting back on production, as well as high demand, for the increase.

"Canada is supplying a lot, they've almost got to the point of where their sanctioned numbers are for bringing lumber, which drives up the price. Demand is good, we've got hot states like Colorado, Wyoming, South Dakota. It's crazy. Heritage Homes has really gone nuts in those three areas."

With a hot housing market and low interest rates, he feels the market in our area will be a bit slower compared to other areas.

"We just got used to the fact that you can borrow money for almost nothing. Now, we're going to have to pay more, except the interest is still lucrative that makes a lot more of those things happen. We're going to probably find ourselves doing more remodels, siding, windows, of that nature. We're still talking to people about new construction and helping them through that process to get them the numbers and see if it works for them. We have our fingers crossed in what's going to happen, and we're going to do everything we can to make sure if it comes our way, we do our best to make it happen."

The NAHB and several other development organizations sent a letter to Commerce Secretary Gina Raimondo about the nation's wood woes. The letter calls on the federal government to look into the issue and find a solution, since construction is fueling an economic recovery.

According to the Federal Reserve Board, production output of wood products is the highest it's been since 2007.

Minnesota Coronavirus Cases

Data is updated nightly.

Cases: 591445

Reported Deaths: 7367
CountyCasesDeaths
Hennepin1224421730
Ramsey51212875
Dakota45791452
Anoka41604438
Washington26834283
Stearns22196222
St. Louis17734303
Scott17244124
Wright16009139
Olmsted1322598
Sherburne1167187
Carver1047545
Clay814492
Rice8037107
Blue Earth749641
Crow Wing663189
Kandiyohi654283
Chisago596651
Otter Tail574078
Benton568297
Goodhue477272
Douglas466375
Mower464832
Winona453950
Itasca435556
McLeod422559
Isanti419664
Morrison418260
Nobles407648
Beltrami394459
Steele386715
Polk383568
Becker379751
Lyon360251
Carlton345054
Freeborn341529
Pine327822
Nicollet325643
Brown305040
Mille Lacs303253
Le Sueur290922
Todd281632
Cass271328
Meeker255740
Waseca235922
Martin230531
Roseau209019
Wabasha20513
Hubbard188341
Dodge18453
Renville179743
Redwood174037
Houston171616
Cottonwood164821
Fillmore155910
Wadena155922
Pennington153619
Chippewa152138
Faribault152119
Kanabec144326
Sibley143110
Aitkin134736
Watonwan13219
Rock128119
Jackson121712
Pipestone115426
Yellow Medicine114120
Pope11006
Murray10619
Swift105218
Stevens90411
Marshall88117
Clearwater86616
Koochiching82715
Wilkin81112
Lake80919
Lac qui Parle75222
Big Stone6004
Lincoln5813
Grant5748
Mahnomen5469
Norman5399
Unassigned48993
Kittson48622
Red Lake3957
Traverse3695
Lake of the Woods3243
Cook1620

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 366827

Reported Deaths: 5937
CountyCasesDeaths
Polk57596625
Linn20845335
Scott20025241
Black Hawk15803308
Woodbury15128228
Johnson1447483
Dubuque13368208
Dallas1117898
Pottawattamie11113168
Story1061248
Warren577088
Clinton555593
Cerro Gordo539789
Sioux514474
Webster512393
Marshall482975
Muscatine480799
Des Moines455766
Wapello4299122
Buena Vista424540
Jasper418872
Plymouth401180
Lee375755
Marion362575
Jones298957
Henry291637
Carroll285752
Bremer284360
Crawford266440
Boone264534
Benton256455
Washington254150
Dickinson248343
Mahaska230351
Jackson221742
Clay215525
Kossuth215364
Delaware209541
Tama209571
Winneshiek196834
Page192622
Buchanan191232
Cedar190023
Hardin185243
Fayette185041
Wright184637
Hamilton179849
Harrison179573
Clayton169456
Butler164934
Mills162322
Madison162219
Floyd160542
Cherokee158738
Lyon157941
Poweshiek154734
Allamakee151551
Iowa148724
Hancock147834
Winnebago142431
Cass138554
Calhoun138413
Grundy136333
Emmet134140
Jefferson132335
Shelby131037
Sac130319
Union128333
Louisa128049
Appanoose127949
Mitchell126342
Chickasaw124015
Guthrie121530
Franklin120021
Humboldt119126
Palo Alto112723
Howard104622
Montgomery103338
Clarke100124
Unassigned9710
Keokuk95831
Monroe95229
Ida90535
Adair86532
Pocahontas85522
Davis82924
Monona82830
Osceola78616
Greene77610
Lucas77323
Worth7478
Taylor65812
Fremont6229
Decatur6089
Van Buren55818
Ringgold55624
Wayne53923
Audubon51010
Adams3384
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