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

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.