The home building industry is at the crux of a crisis: the shortage and high cost of lumber is a real threat. Due to a shortage of raw material, many lumber mills are shutting down, causing additional uncertainty about lumber availability and concern that prices will continue to rise.
Lumber prices have more than doubled in the last year. With the dramatic increase in the cost of lumber, many home builders are encountering issues with the ability to deliver houses. Home builders with weaker margins are suffering from low profits on the houses they are producing.
Builder Partnerships recently conducted its annual survey of our builder members. Each year, we request that our membership share information about their current successes and challenges along with their outlook for the upcoming year.
Even with 2020 being the year that it was (full of changes and challenges mainly driven by a global pandemic), our builder members found a way to succeed. Nearly 42% of the builders surveyed reported an increase in sales traffic, with 29% reporting no decrease in traffic from the beginning of 2020.
Builder Partnerships is committed to helping our manufacturer and service provider members gain exposure to their target market and connect with our community of successful and engaged builders. When we learned that the IBS Virtual Experience (IBSx) was experiencing technical difficulties and that many of our members' virtual booths were impacted by the outage, we immediately got to work on a plan to help our members share their product information and educational content with our builder community.