Before we address recent lumber pricing trends, let’s talk about product shortages and availability.
Across the board (ha-ha!), availability is very good. Of course, there’s always isolated issues, but the shortages we experienced during 2020 to 2022 are all but gone.
With freight costs (especially fuel) less impactful, this isn’t currently substantially adding to push prices up.
Pricing on construction lumber, plywoods and waferboard OSB remains low.
While NOT at historical lows, these categories are at approximately at or below half of their last-year-at-this-time prices! Everyone keeps thinking this cannot continue but the laws of supply and demand are calling the shots – not “groupthink”.
Other categories of wood products have also fallen in price:
- Cedar is lower than in the past 2 years.
- LVL and I joists are taking another substantial price drop.
- Redwood remained relatively stable through the past couple of years.
- Hardboard siding items are level.
Several distinct groups of building materials are not falling in price:
- Hardware – we continue to see price increases across a broad spectrum of manufactured items.
- Clear grades of most any type of wood remain high in price and with spot shortages. As an example – clear 1x pine boards are very difficult right now.
- Treated items are edging upwards.