Commercial Contractor Concern Over Lumber and Steel Shortages is Growing in Q3

A persistent lack of wood due to the coronavirus pandemic is giving builders and contractors a headache. Last week, the US Chamber of Commerce’s Commercial Construction Index for the third quarter showed timber / lumber to be the most frequently reported shortage at 11%, up from just 5% in the second quarter. Additionally:

  • 62% of contractors say that fluctuations in the cost of materials have a high or moderate impact on their business, up from 59% in the second quarter.
  • 41% of those who raised concerns are concerned about steel, up from 33% in the second quarter. 21% are concerned about changes in the price of wood.
  • 54% are confronted with bottlenecks in at least one material, up from 45% in the second quarter.

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