The Lumber Market - On The Brink Of All-Time Highs
Lumber prices have more than doubled since April and futures are at their highest since 1986. Originally the pandemic was expected to hurt lumber demand but the booming housing market has created unexpected demand.
Due to the pandemic, Americans have spent more time in their homes over the past year. With extra time at home, homeowners have started new home improvement projects resulting in a big home remodel boom across the country. New decks, fences, and other home upgrades have resulted in higher demand and lower supply of lumber.
Homeowners aren’t the only ones demanding lumber. Among commercial contractors, lumber is the most reported material shortage and the problem is growing. One in 3 contractors are saying they don’t have enough lumber. As timber construction grows within the commercial market place, we don’t expect this demand to waiver anytime soon.
If you are looking to invest in a timber property, Southern Land Advisors is here to help navigate all of your options. In Georgia today there are over 7,000 timber properties for sale and counting.