The latest on lumber prices
It's been a rough year for lumber. However, prices appear to be perking up.
In fact, lumber prices are up over 17 percent compared to this time last year, per NAHB figures. The NAHB also reports that framing lumber composite prices have risen for five straight weeks (as of the week ended on Nov. 1) and is at its highest level in 2024.
The NAHB shares more context and trends to monitor, including:
- Random lengths framing lumber composite price increased 2.9 percent.
- Prices are 8 percent higher than last month and 17.2 percent above where they were one year ago.
- The price of lumber futures rose 5.2 percent.
- Prices are up 5.8 percent from a month ago and 9.8 percent higher than they were one year ago.
- The structural panel composite price was up 1.3 percent from the previous week.
- OSB prices increased 4.6 percent.
- Western Fir plywood and Southern Yellow Pine plywood prices were flat.
The NAHB delves into some of the factors shaping the market right now. Not least of which are the widespread closures, curtailments and cutbacks of mills in the U.S. and (especially) Canada, which have shrunk North American softwood lumber production capacity by an estimated 3.1 billion board feet. The organization also cites increased demand, rising tariffs, supply-chain bottlenecks and insufficient domestic production as key culprits behind lumber prices fluctuation.
Click here for the NAHB's full rundown on the current lumber landscape.