Demand for residential projects is sky-high. But supply shortages, lumber in particular, threaten the profit margins and schedules of builders across the country. In some markets, the price of lumber has increased by more than 80% since mid-April.
For fixed price builders, that means the price you promised your clients back when you started their project may tank your profit for the year. For open-book builders, your project financials may be protected, but supply delays have wreaked havoc on your schedules.
Without a specific plan to implement now on your upcoming jobs, you may be battling both profitability and schedule issues at the same time, later.
Join Donny Wyatt, Founder + CEO of CoConstruct, Paul Colwell, Managing Director of Cullum Homes, Dan DeVol, Founder and President of DeVol Builders and Phil Randolph from CBUSA to discuss three short-term mitigation approaches that you can use to protect your margins despite unpredictable lumber prices.
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