Lumber markets continued to contract this week, with the composite average down 7.8%. OSB has led the slide, down almost 20%. Pressure-treated 2x was also down mid-double digits, and doug fir 2x tended to be down between 5 – 10%.
This brings our composite average very close to the average for 2020 and definitely brings some relief to high material prices.
There’s a lot of talk about interest rates, potential recessions, and a myriad of other issues, however, housing demand remains strong and as we’ve mentioned there is simply not enough housing inventory. Unemployment rates have continued to stay at near-record lows. This is an important metric as recessions with low unemployment are virtually unprecedented, and speaks to the fact that this may be more of a cooling period than a full-blown recession. That said, we all know how unpredictable the past few years have been. All said and done we continue to be cautiously optimistic that the future for building remains relatively stable.
We are still battling material availability and timeline issues, with doors and windows still suffering painful lead times. Cabinets are another category that has been very challenging. There are some optimistic signs that things are heading in the right direction, but so far this hasn’t materialized in a meaningful way.
We are constantly working to ensure that we have the materials you need in stock. Paint has been a huge challenge in this regard, and as such, I am pleased that we have continued to move forward offering Rodda brand paint, which currently has very reasonable levels of availability, along with a stellar record in quality of materials.
Our installed glass division continues to grow, and just a reminder that we’d love to quote any show doors, mirrors, storefronts, or energy retrofit needs!
Danny Steiger│President & CEO
Lumber Traders Inc.
Angeles Millwork & Lumber Co.
Hartnagel Building Supply
As always, this e-mail content is not financial advice. Simply data to help you be better prepared. Our goal is to create more informed builders and homeowners to properly price and budget for future jobs and projects.
We will continue to update you on changes in the commodity market. Displayed above are the latest graphs.
Angeles Millwork and Hartnagel Building Supply see our customers as business partners, and their success is, in turn, ours. That is why every month, we will publish a commodity pricing chart on our Facebook page and in our monthly newsletter. The chart will represent a correlation of average pricing trends over the past year of Douglas Fir 2×4, Pressure Treated 2×4 Lumber, 7/16” OSB, and ½” CDX.