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Update: Framing Lumber Prices Down 50% Year-over-year; Still up Sharply from Pre-pandemic Levels

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by Calculated Risk on 5/31/2022 01:17:00 PM

Here is another monthly update on framing lumber prices.

This graph shows CME random length framing futures through May 31st.

Lumber was at $656 per 1000 board feet this morning.
This is down from the peak of $1,733, and down 50% from $1,284 a year ago.

Prices are still up sharply from the pre-pandemic levels of around $400.

Click on graph for larger image.

There is somewhat of a seasonal demand for lumber, and lumber prices usually peak in April or May (although it seems likely lumber prices peaked earlier this year).
The slowdown in housing – and some supply improvement – has pushed down prices.

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