NAHB: Building Material Shortages are Widespread
The National Association of Home Builders (NAHB) reported that building material shortages are now more prevalent than at any time since the NAHB began tracking the issue in the 1990s.
NAHB in a recent report says, more than 90% of builders reported appliance, framing lumber, and OSB shortages.
According to a May 2021 NAHB/Wells Fargo Housing Market Index survey, 90 percent of respondents said there was a shortage of plywood, and nearly as many (87 percent) said there was a shortage of windows and doors (HMI).
The shortages are not only widespread but also broad in scope.
In the May 2021 survey, 12 of the two dozen items listed were checked as being in short supply by at least 70% of the builders.
In total, 16 were checked as being in short supply by more than 60%, and 21 were checked as being in short supply by more than 5%.
At least 43 percent of builders who purchase the item identified all two dozen material categories as being in short supply.
In contrast, less than 40% of builders reported a shortage of any of the listed products and materials when the HMI survey last covered the topic in June 2020.
Over the course of 11 months, the proportion of builders reporting shortages increased by at least 27 percentage points across all 23 categories.
In the most extreme case, the proportion of builders reporting an OSB shortage increased by 83 percentage points, from 9 percent to 92 percent.
Plywood, framing lumber, and copper wiring shortage percentages all increased by 70 points or more.
In May 2021, approximately 95% of builders reported a shortage of appliances, the single highest shortage percentage recorded on any item since NAHB began collecting the data in a systematic manner in the 1990s.