ConDig (02-Jun-21). Building material shortages have reached record levels, with more than 90% of builders reporting a lack of appliances, framing lumber and oriented strand board (OSB), according to a May survey by the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).
The NAHB said building material shortages are now more widespread than at any at any time since the association began tracking the issue in the 1990s.
Exactly 90% of respondents reported a shortage of plywood, while 94% said that framing lumber was in short supply and 92% reported a lack of OSB.
The shortages are not only extremely widespread, but incredibly broad-based, according to the NAHB. Of the two dozen items listed in the May survey, 12 were checked as being in short supply by at least 70% of the builders. In total, 16 were checked as in short supply by more than 60%, and 21 were checked as in short supply by more than 5%.
Amid disruptions across numerous supply chains since economies were reopened following Covid-19 related shutdowns, 95% of builders reported a shortage of appliances in May — the single highest shortage percentage recorded on any item since NAHB began collecting the information in a systematic way in the 1990s.
The increasing cost of building materials like lumber has put the brakes on housing starts and permits in recent weeks.