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Update: Framing Lumber Prices Up Year-over-year

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by Calculated Risk on 11/02/2021 11:56:00 AM

Here is another monthly update on framing lumber prices.

This graph shows CME random length framing futures through November 2nd.

Lumber was at $557 per 1000 board feet this morning.
This is down from a peak of $1,733, and up from $25 a year ago.

Click on graph for larger image in graph gallery.

Lumber price are up 6% year-over-year.

There were supply constraints over the last year, for example, sawmills cut production and inventory at the beginning of the pandemic, and the West Coast fires in 2020 damaged privately-owned timberland (and maybe again in 2021).
The supply constraints have eased somewhat.
And there was a huge surge in demand for lumber (demand remains strong).

HVS: Q3 2021 Homeownership and Vacancy Rates

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