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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: 912370

Reported Deaths: 9506
CountyCasesDeaths
Hennepin1780492023
Ramsey736781043
Dakota67355574
Anoka63852570
Washington40349356
Stearns33475276
St. Louis29443403
Scott25842181
Wright25830216
Olmsted22258128
Sherburne18919126
Carver1661066
Clay12033104
Blue Earth1144868
Rice11410138
Crow Wing11170122
Chisago992378
Kandiyohi9800106
Otter Tail9758127
Benton9018125
Beltrami816094
Goodhue805597
Douglas7849100
Itasca769597
Mower731249
McLeod710983
Winona708657
Isanti697883
Steele682731
Morrison671579
Becker627174
Polk599484
Freeborn559646
Carlton543474
Mille Lacs529474
Lyon527261
Nobles524754
Nicollet521160
Pine512642
Cass500553
Todd490743
Brown469757
Le Sueur457733
Meeker431457
Martin385843
Wabasha373610
Waseca372332
Dodge359811
Hubbard354749
Roseau315531
Fillmore304315
Wadena301740
Redwood281245
Houston270717
Renville268051
Faribault257032
Pennington251030
Sibley251017
Kanabec248136
Cottonwood229232
Aitkin221550
Chippewa219442
Pope206710
Watonwan197420
Yellow Medicine187723
Rock177428
Koochiching176023
Swift172622
Stevens167011
Jackson160816
Clearwater157520
Marshall153122
Murray151811
Pipestone149529
Lake132224
Lac qui Parle122125
Wilkin120616
Mahnomen105914
Norman10489
Grant101110
Big Stone9465
Lincoln8745
Kittson73023
Red Lake71310
Unassigned629124
Traverse6056
Lake of the Woods5255
Cook3070

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 523052

Reported Deaths: 7289
CountyCasesDeaths
Polk80319799
Linn32142424
Scott26637292
Black Hawk21974378
Woodbury20490258
Johnson19778105
Dubuque18515241
Pottawattamie15890213
Dallas15320113
Story1380258
Warren8450104
Cerro Gordo7964123
Clinton7725114
Webster7326122
Des Moines7098105
Marshall669093
Unassigned66470
Muscatine6645117
Wapello6441144
Jasper619591
Sioux610177
Lee5908105
Marion557897
Buena Vista502149
Plymouth488388
Henry418655
Benton404859
Jones404862
Bremer395372
Washington391463
Boone389739
Carroll367755
Mahaska365365
Crawford353747
Dickinson314655
Jackson307747
Buchanan305741
Clay295536
Delaware294654
Kossuth289077
Fayette286353
Hardin284353
Tama279777
Page272533
Wright266149
Cedar265527
Hamilton259857
Winneshiek258143
Floyd255449
Clayton244459
Poweshiek237243
Madison234525
Harrison234379
Cass233466
Butler232744
Iowa229634
Jefferson223043
Mills220930
Winnebago215938
Hancock214639
Cherokee211347
Lyon206142
Appanoose205357
Allamakee203955
Calhoun196919
Shelby196442
Union191141
Humboldt185130
Grundy183637
Franklin183029
Mitchell182043
Chickasaw178922
Emmet178246
Louisa176953
Sac171026
Guthrie168137
Montgomery161745
Clarke160829
Keokuk150839
Palo Alto150532
Howard146824
Monroe142739
Ida130141
Greene127517
Davis124625
Lucas124426
Monona122939
Worth12139
Pocahontas120724
Adair114337
Osceola104818
Decatur101913
Taylor98514
Fremont95913
Van Buren93222
Wayne84525
Ringgold76729
Audubon74917
Adams5748
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