Shortages of key construction materials are forcing some builders and contractors to turn to substitutes and hunt for alternative suppliers as they rush to meet the high demand for new housing
in the year that ended in July, the highest annual rate of price growth since the index began in 1987.
Prices and preferences are secondary to an item’s availability, said Kurt Yinger, a research analyst at investment bank D.A. Davidson & Co. “Builders and contractors are very open to trying a new product,” he said.More than 90% of builders reported shortages of appliances, framing lumber and a type of engineered wood known as oriented strand board, according to a May survey by the National Association of Home Builders.
Shifts in the labor market and in production during the pandemic have complicated efforts to restore the flow of construction materials from factories.What impact have supply-chain shortages had on your construction or renovation project? Join the conversation below. For example, bar joists—zigzagging metal trusses in ceiling and floor support systems often used in large structures like warehouses—are in short supply because of Covid-related stoppages in supplier factories as well as because of shortages and climbing prices for materials like steel. Replacements such as concrete planks can be easier to get but more expensive, said Roger McCarron, chief executive of Project Management Advisors Inc., a Chicago-based real estate consulting firm.
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