WOOD PRICE GROWTH
If you’re feeling fortunate to have acquired enough lumber for your wood project, prepare to be disheartened when you see the price tag.

Let’s revisit middle school economics—lumber prices are soaring due to the basic principle of supply and demand. With limited supply and high demand, prices skyrocket. Currently, lumber prices have reached unprecedented highs, increasing by as much as 130% in the past five months!

However, there’s more to the story…

Much of the lumber used in the US is imported, and tariffs on these imports contribute significantly to the price surge. This is especially concerning for those planning to build homes or structures with wood.

According to the National Association of Home Builders, the soaring lumber prices are driving up the cost of building a wood-framed single-family home by over $16,000. Lead times for acquiring lumber are also increasing, with no relief in sight. Additionally, if the US faces a bad hurricane season, FEMA’s wood priority could exacerbate the situation.

COLD-FORMED STEEL AS A SOLUTION
With escalating lumber costs and extended lead times, project owners and builders are seeking alternative solutions to wood. Cold-formed steel (CFS) emerges as a viable alternative.

CFS framing has gained popularity in the construction industry, particularly for hotels and residential projects such as single-family homes, dormitories, and apartment complexes.

Not only does cold-formed steel offer superior quality framing material, but it’s also surprisingly more cost-effective. Recent comparisons have shown that builders can save approximately 24% by switching to a cold-formed steel framing package.

DESTNEST SUPPORTS YOU TO SHIFT FROM WOOD TO STEEL
If your project was initially designed with wood, consider converting it to cold-formed steel. The Steel Network provides a complimentary design-assist service to transform your building from wood-framed to CFS structure. This service offers a comprehensive representation of material and labor savings, along with a projected project completion schedule. To truly gauge cost savings, it’s essential to consider the entire project’s aspects, including framing package, labor, insurance costs, and project longevity.