US framing lumber prices decline amidst weak demand

The National Association of Home Builders (NAHB) reported a 1.3% drop in the Random Lengths Framing Lumber Composite price for the week ending June 14, 2024. Year-over-year, lumber prices have fallen by 4.8% due to persistently weak demand. Lumber futures prices also decreased by 2.4% last week and are down 4.9% from last year. Structural panel composite prices declined by 4.8%, with OSB prices decreasing 12.9%. Western Fir and Southern Yellow Pine plywood prices fell by 0.3% and 0.6%, respectively.

NAHB advocates for tariff reductions, increased domestic production, and new international markets to address lumber price volatility. The association highlights that lower lumber prices impact the cost of new homes, contributing to improved affordability for homebuyers.