Lumber prices have continued to rise after hitting an all-time high last September.
The National Association of Homebuilders queried builders in its April 2021 NAHB/Wells Fargo Housing Market Index survey as to how they are dealing with the problem. In descending order, the survey results were:
- Adding price escalation clauses to contracts: 47 percent
- Pre-ordering: 29 percent
- Obtaining price guarantees: 22 percent
- Pausing between laying the foundation and starting framing: 15 percent
- No action: 13 percent
- Adding shared price clauses to contracts: 10 percent
- Employing lumber options or futures: 3 percent. (Source)