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We’re all aware the prices for lumber and other building materials are on the rise. In fact, futures for North American lumber trading on the Chicago Mercantile Exchange are up 400% from a year ago. Not surprisingly, McCoy’s team members have been fielding many questions about the dramatic increases over 2020 lumber prices and the tight market for other supplies.
There are a lot of factors that are contributing to high prices. Here are a few of the big variables.
In the spring of 2020, the pandemic reduced capacity at lumber mills due to forced shutdowns. However, the pandemic also caused a massive surge in demand as people began record numbers of home-improvement projects. Stimulus payments and historically low interest rates put money in many homeowners’ pockets to build during their forced at-home time, both as DIYers and through contractors. To complicate matters, devastating wildfires in the Pacific Northwest early in 2020 limited access to timber for a time. As access to the land was opening back up, the pandemic shutdowns that affected nearly all industries began.
Local conditions also affected lumber and building supplies. In 2020, hurricanes hit McCoy’s states on two different occasions. The winter storm in 2021 caused further shortages.
While these factors have been in the news as they relate to the price of lumber, they also a direct effect on supplies of materials such as PVC, OSB, and the resin used to manufacture subfloor, among others.
We’re doing everything we can to keep stocked with the supplies you need for your business and work. Here’s our short-term forecast for some of the lumber and other building products in high demand.
We’ll be updating this page regularly as the availability of supplies changes. If you have any questions about these or other products, please let us know by calling our hotline at 1-877-542-8986 or dropping by one of our stores. Our hard-working merchandising team continues to seek out creative ways to keep the materials you need in stock. We’re here to serve—let us know how we can help.