Lumber Prices Soar With War in Ukraine 

Gray Frame Corner
Gray Frame Corner

How to Keep Construction Costs Down

After the Summer of 2021, it seemed like lumber prices were finally settling down and becoming less volatile. Unfortunately, the pricing of 1,000 board feet rose to above $1,400.

At the end of 2021, there was a gap of 5.8 million homes that the market had a demand for. This creates a vast market and evident demand for builders to start more housing projects.

On November 24th of 2021, the US Government imposed an increased tariff on imports from Canada. The tariff increased from 8.99% to 17.99%.

Since tariffs usually have an impact on the importer, this amounts to a 9% increase in lumber prices imposed by the US Government on lumber imported from Canada.

The best time to think about what options you have to keep costs under control is when you are designing and planning your home.

Methods to Reduce Costs Amidst High Lumber Pricing

Steel Framing Offers Attractive Solution

Steel studs can save on both material cost and labor. The lower labor costs are partially because they weigh less for the same applications.

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