The NAHB says lumber prices continues to put pressure on home builders and home costs.
According to the NAHB, lower tariffs would mitigate uncertainty and associated volatility that has plagued the marketplace, which could help ease upward price pressure on lumber prices.
Another positive development is that housing construction and new home sales have moved forward at a robust pace in recent months as lumber prices have receded from unprecedented highs.
Lumber prices peaked above $950 per thousand board feet in September and are now down to roughly $560 per thousand board feet – still at an extremely high historical level.
The NAHB said that it continues to work on all fronts to find solutions that will ensure a lasting and stable supply of lumber for the home building industry at a competitive price.
The National Lumber and Building Material Dealers Association (NLBMDA) said that it “welcomes” the decision by the Department of Commerce and views it as a step in the right direction in trade relations between the U.S. and Canada.
In the meantime, the NLBMDA said that it will continue to lobby the Trump Administration and the incoming Biden Administration in support of a long-term softwood lumber agreement with Canada.
According to the NLBMDA, a new agreement would bring stability and predictability to the pricing and availability of softwood lumber.