Lumber prices rise for third consecutive week

The framing lumber composite price increased by 1.6% during the week ending Aug. 2, marking the third consecutive weekly rise. This comes after prices had recently plummeted to their lowest level since April 2020. The National Association of Home Builders (NAHB) closely monitors these trends using the Random Lengths framing lumber composite price, which aggregates data from key US and Canadian regions.

Despite the recent uptick, lumber prices have stayed below $400 per thousand board feet for 15 weeks. Lumber futures fell by 2.6% but saw an 11.5% increase over the past month. Other wood product prices showed mixed trends, with OSB prices down 0.3% and Southern Yellow Pine plywood prices up 0.5%.