Is Lumber Prices Expected to Go Down?

For the 13th consecutive week, framing lumber prices are down. On Friday, the cash market price of lumber fell to $389 per thousand board feet, according to data from Fastmarkets Random Lengths, an industry trade publication. That's down 74% from its $1,515 all-time high in May.

Will lumber prices go back down?

The price of lumber may be crashing—but we're still far above pre-pandemic levels. The cash price is still up 211% from spring 2020. Prior to the pandemic, lumber prices fluctuated between $350 to $500 per thousand board feet. "Prices will continue to decline for the next few weeks and gradually stabilize.

Will lumber prices go down in 2022?

The rise in the number of local vacancies will drag home prices down, likely in 2022. The number of newly built SFR homes will remain low in 2021-2022. ... Expect the volatile forces of supply and demand to continue affecting lumber prices for the next two-to-three years.