When Will Retail Lumber Prices Go Down?

In the United States, the costs of lumber and plywood have skyrocketed in recent months.In 2022, costs for construction materials will begin to fall, and by 2023, they will have reached levels comparable to those seen before the epidemic.They are a reflection of concerns that are particular to housing rather than generic inflation.(I have maintained that general inflation is on the horizon, but the price of lumber is hardly an early indicator.)

Jalbert anticipates that prices would be less erratic in the second half of 2022, and believes that they might finally settle within a range of US$450 to US$600 in the following year. In 2019, before the epidemic, the average price of a piece of timber was from $350 to $400.

Will lumber prices go down in 2021?

However, there is some confidence among industry analysts that costs may decline considerably before the end of 2021.This is true even in the event that the price of lumber is never again able to drop below $400 per thousand board feet, as it was at the beginning of 2020.According to Steve Sallah, President and Chief Executive Officer of LBM Advantage, ″I expect costs will lessen a little bit throughout the summer.″

Why are lumber prices falling?

Lumber prices dropped by 7% on Wednesday and have dropped by a total of 12% so far this week as the commodity reaches new lows for 2022. As a result of rising mortgage rates and a decline in the number of homes being constructed, the demand on the construction material has increased. Lumber supplies are beginning to build up at mills and at home improvement retailers around the country.

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Did Home Depot raise lumber prices in Q1?

The price of lumber remained unpredictable throughout the period. As an illustration, the price of framing lumber reached its all-time high during the first quarter at over $1,300 per thousand board feet before dropping by almost $400 to roughly $900. In other words, Home Depot was able to pass along the greater costs to customers, and customers did not object to the price rise.

How long will it take for lumber prices to go up?

Other specialists in the timber business are not nearly as hopeful, with many predicting that it will take as long as an additional year and a half for lumber prices to reach anything near the levels that they were at before the epidemic.

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