Analysts say wood prices are soaring

Big jump in price of wood

BIRMINGHAM, Ala. (WBRC) - If you recently started a home improvement project, you may have noticed the price of wood has jumped.

The pandemic is throwing a wrench in the lumber industry, and not only are the prices higher, but local builders said wood is also difficult to find.

Analysts said the year started with lower than normal lumber supplies, and then when the pandemic hit, many plants had to shut down.

It’s also taking longer to import wood from other countries.

Also adding to the wood shortage is the amount of people stuck at home taking on DIY projects, like building decks, and repairing fences.

But not only is the price of lumber higher, one local contractor said the quality of wood isn’t so good.

“They’re letting a lot of stuff just come through the plants without grading it,” said Owner and Builder of Remodels Unlimited, Shane Black.

“And it is really, really wet especially the treated wood. So, it’s getting…as soon as it comes in, it’s getting out. It’s not been able to dry out, so it’s not a really good product compared to in the past,” Black said.

The National Association of Homebuilders said the price of lumber has increased nearly 80% in recent months.

That’s an average price of more than $600 per thousand board feet.

Analyst said this increase will likely add thousands of dollars to the cost of newly built homes.

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