Based on the results of the May 2018 survey for the NAHB/Wells Fargo Housing Market Index, the National Association of Home Builders has concluded that shortages of framing lumber are more widespread now than they were at any time since the association began tracking the issue in a consistent manner in 1994.
Thirty-one percent of single-family builders who responded to the survey’s special questions reported a shortage of framing lumber, far outpacing the other products and materials on the survey. Trusses were in second place, with 24% of builders reporting shortages, followed by lightweight steel and OSB at 30% each.
At this time last year, reported shortage percentages were much lower for all materials – 21% for framing lumber and under 15% for all other products and materials.
It is probably not a coincidence that the top five items on the 2018 shortage list are made of softwood lumber or steel, both of which have been targeted by the Administration with new import tariffs over the past year.
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