RECENT SPIKE IN DEMAND FOR LUMBER

In the past year, lumber has become somewhat of a prized commodity. Lumber prices have increased as much as 60% (now 400%) in the past six months alone. On average, the cost for 1,000 board feet typically ranges from $200 to $400. However, current prices are now over $1,000. The National Association of Home Builders has even reported that rising lumber prices contribute an extra $35,872 to the cost of the average single-family home. This increase in price is due not only to a steadily high demand in home construction, repair, and remodel but also to an extreme lack of supply.

As a result of the pandemic, many sawmills were shut down in anticipation of a slowdown in production, while others slowed their output. What they did not expect, however, was an industry boom that would cause shortages country-wide. Coupled with the lack of supply, sawmills also face the issue of finding enough employees to staff the mills, thus driving the price of lumber way up. The use of wood framing in construction at reasonable costs has become increasingly harder to come by.

SO WHAT IS THE BEST ALTERNATIVE?

Recent polls have found that 75% of contractors are beginning to seek out alternative options to lumber in building construction. One alternative to wood framing that has seen a recent growth in popularity is steel framing. In contrast to the rising cost of lumber, metal framing has remained at a steady price, making steel a more cost-effective option.

Chart: Zach Phillips | Construction Dive Source: BLS Producer Price Index Get the data Created with Datawrapper

ADVANTAGES OF STEEL FRAMING

Metal framing is not only more reliable cost-wise, but it also offers some structural advantages that wood framing does not. To start, steel framing is stronger and offers more support than wood framing. Steel is also non-flammable or combustible and is not prone to mold or water damage, all of which are major disadvantages of wood framing. The durability of steel also allows for better protection against natural disasters such as hurricanes or earthquakes. In this current economy, utilizing steel framing is a great alternative to wood.

STEEL FRAMING IN MIXED-USE AND OFFICE BUILDINGS

25,000 square foot mixed-use building utilizes steel framing and features retail and restaurant space, leasable office space, and loft-style apartments for rent.

Professional office space built using steel frames. Designed in a contemporary/European/eclectic style, the roof lines and scale properties allowed the municipality to accept a building that is much taller and larger than it appears to the passerby.