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Lumber costs rose this year because of the pandemic

Construction Commodities
Posted at 11:37 AM, Dec 14, 2020
and last updated 2020-12-14 11:37:49-05

RICHMOND, Va. -- The cost of wood in the home construction market has increased this year because of the coronavirus pandemic.

The Richmond Times-Dispatch reported Friday that industry observers say that prices of some kinds of lumber had more than doubled during parts of this year.

David Logan is the director of tax and trade policy analysis for the National Association of Home Builders.

He said that mills started curtailing operations as the pandemic spread. But he said there was a surge in do-it-yourself activity and small contracted projects.

The housing market also bounced back.

The group said rising lumber costs have added about $16,000 to the average price of a single-family home.