NAHB: Softwood lumber prices climb to record highs
Results of tariffs imposed by the U.S. Commerce Department and lack of negotiations among the U.S., Canada and Mexico have pushed the prices of softwood lumber imports up 30% since Hurricane Harvey hit last summer, the National Association of Home Builders says on its NAHB Now blog.
“This was the highest week-end futures price we have on record, dating back to January 1995,” said David Logan, director of NAHB’s tax and trade policy analysis. “There was a short reprieve for price increases following the hurricane, but prices have risen sharply this month.”
Unlike lumber, OSB prices had been steadily declining in recent months, NAHB says. However, those declines came to an end last week when prices jumped 6%.