Builders are struggling to meet orders as they combat a shortage of building supplies. Regional building products makers are operating under tight credit conditions, with trimmed workforces. In some cases, these factors are not allowing them to raise production enough to meet rising demand.
Sales in the SPF lumber market increased, leading to raised prices among producers. Southern pine lumber gained momentum, while coastal species lumber increased slightly. Inland lumber species continue to transition to a vibrant market.
The country's home-building machinery were hit hard during the recession. Now that the housing sector is witnessing increased demand, prices have increased for a number of key construction materials.
The Fredonia Group reports that global demand for doors and windows is expected to rise 7.1 percent each year and equal $223 billion through 2017. This growth will be caused by recoveries in the construction markets of many developed countries.
Shortages of lumber, wall board, and other key home building materials have been reported by home builders and lumber dealers. Builders reported shortages most often in oriented strand board, followed by wall board, framing lumber, and plywood.