What were lumber prices in 2015?

Why Lumber Prices Are Falling–Summer 2015. Lumber prices have taken a dive this summer, falling 21% from a February high of $380 per MBF to an August low of $307 per MBF (Figure 1). Composite prices are near the lowest level they have been in three years.

Are lumber prices expected to drop in 2021?

“Lumber prices will settle once demand slows. We will see prices fall with better logistics, but because of logging the market will never be able to keep pace with rising demand. Prices will come down as we get closer to summer, but there will still be a risk of going back up if demand picks up,” he said.

Are lumber prices going down?

Over the past three months, however, with interest rates rising and the housing market cooling, demand for lumber is falling—and so are prices. Lumber futures are down over 50% since this year’s January peak of $1,329 per thousand board feet to $651 on Wednesday.

Are lumber prices expected to drop in 2022?

Lumber prices fall to new 2022 low as April existing home sales hit lowest level since the start of the pandemic.

What did a 2×4 cost in 2018?

Still making big jumps and catching up to recent-record highs of mid-2018, last week’s Western S-P-F 2×4 price improved +$119, or +31%, relative to the 1-year rolling average price of US$385 mfbm and increased +$114, or +29%, relative to the 2-year rolling average price of US$390 mfbm.

Why are lumber prices so high 2022?

It was initially thought that housing demand in the U.S. coming out of the pandemic was likely a big reason for the increase in lumber prices. Yes, there was an increase in demand for new housing in states like Florida, Ohio, and Texas, but that was likely offset by lower demand in states like California and New York.

Why is wood so expensive right now?

After steadily rising through the end of 2020 and the beginning of 2021, lumber prices skyrocketed up to an all-time high in May, driven by historic levels of demand and mounting supply chain issues. Relief came in the summer as the cost of wood gradually began to return to historically average levels.

Why is OSB 2022 expensive?

February 2022 building material issues. Framing lumber prices continue to increase. OSB and construction plywood prices are also increasing rapidly, worsened by extreme shortages in many items.

Are lumber prices back to normal?

Now, lumber prices, like most commodities, are rising again. They are now about 15% lower than that peak in May 2021, but still about three times their average pre-pandemic price, according to Random Lengths, an industry website.

Did lumber prices go up 2022?

Lumber prices fall to their lowest level in 2022 as the highest mortgage rates in 13 years dent housing demand.