February 2023 Lumber Prices = Supply and Demand.
Lumber is everywhere, but as we repeatedly say: it’s all about supply and demand. Overall, right now – just too much supply and not enough demand. Mills are restricting output however with other market factors and weather working to tamp down demand, it’s a vicious cycle.
Framing lumber prices have risen a bit since the first of the year, but in the bigger picture that framing lumber is somewhere in the less than half of last year at-this-time range, prices are still relatively “cheap”.
Of course, other categories of wood products don’t necessarily beat to the same drummer. LVL and I-joists have declined in value. Redwood is stable. Cedar is way less than 6 months ago except for higher grades. February 2023 lumber prices are a mixed bag.
Our best advice remains the same – stay informed. Get an updated quote if you’re using older numbers. Be ready for constant price movements, perhaps in both directions – even if the changes are small.
We believe as the year grinds on lumber will increase across the board – although we don’t expect any massive shifts as we’ve experienced over the past three years.
Finally, diesel fuel remains high. This factor alone will prop up prices of lumber – AND the entire range of products we call use, including groceries!
Things are always changing so come back each month for our latest lumber prices review!
Click to see previous month’s review January 2023 lumber price review