Call Us: Baltimore: (410) 675-4740    |   Chevy Chase  (240) 858-1001

Lumber Prices Begin to Fall

As we’ve explored in previous newsletters, 2020 has seen an unprecedented surge in lumber demand that has driven prices for lumber and building products to an all-time high. However, new reports indicate this trends looks to finally be slowing. Let’s dive into the current lumber market forecast.

Lumber Prices Finally Drop

September saw the industry reach its all-time high for the price of framing lumber, reaching $950 per thousand board feet. However, as of last week, that price has fallen to just over $750, a drop of nearly 20%. However, this is still an increase over prices in October of last year, where lumber peaked at just over $420 per thousand board feet.

What’s Responsible for This Trend?

Lumber is a notoriously seasonal market. Winter usually brings a downturn in demand for lumber products as construction projects slow. DIYers that helped feed the initial 2020 lumber demand spike have also begun to taper out with the colder weather. However, the market still is experiencing higher demand than this time last year for a variety of factors, including a surge in the homebuilding market, and vast forest fires that have limited lumber production across the Western US and Canada. Lumber prices begin to fall with each winter season, but the unique conditions of this year mean we can expect prices to fall slower than years past.

The Housing Market Remains Booming

Prices for residential construction are still on the upswing, including a 1.8% climb in for prices paid on residential construction goods in September, according to the US Bureau of Labor Statistics. More staggering however is how 2020’s lumber boom has increased the prices paid for new homes. This unprecedented year has added as much as $16,000 to the price of a new home, as of August. Exceptional mortgage rates and huge demand across the US don’t look to be on the downturn as of yet. While lumber prices begin to fall approaching the winter, it still appears that they aren’t trending down as fast as they have in years past.

National Lumber Works With You to Provide the Building Materials You Need

At National Lumber, we’ve worked with builders throughout the unexpected ups and downs of the year to make sure they have the materials they need to keep creating fantastic projects. Reach out to our sales team today to get the lumber you need for your next build.

More to explore

Kitchen DEsigner

Laura brings 18 years of experience to our kitchen design team. She helps customers build exceptional kitchen spaces down to the finest details. 

Every client has unique needs, and Laura enjoys the puzzle of figuring out how to fulfill them. She combines her technical abilities with her background in interior design to balance functionality and beauty.

She listens to her clients to help them narrow down their choices and presents a curated selection to make the process less overwhelming. Laura finds creative solutions to check off their wish list while keeping them on budget.

Her personal favorite design trend is a transitional style with a hint of traditional details. She loves the mix of painted colors and the textures and variations of natural woods. However, the best
part of her job is the opportunity to work in every design style
and come up with different combinations of styles, materials,
and finishes executing her client’s unique vision.

Personally, she loves everything involving water- the ocean, pools, boating, and long baths.
She also enjoys anything with a story- books, movies, shows, etc.
Her newest hobby is attempting to have as much fun cooking as she does exploring new restaurants.

Kitchen DEsigner

With over 15 years of experience, LindaRose brings deep knowledge of how to achieve beautiful kitchen designs at the right price. 

For LindaRose, listening to a client’s needs is paramount to achieving a great design. Creativity is key to kitchen design, requiring out-of-the-box thinking to achieve an excellent final product. 

Some of her favorite design trends she introduces to clients include transitional, clean lines, and dark islands with light perimeters. 

Before entering the world of kitchen design, she spent 20 years in theatre as a singer and actor, working in notable local theatres like Round House and Everyman.

In her free time, she enjoys other creative endeavors such as working with textiles including quilting, embroidery, and weaving. 

Kitchen DEsigner

Rick Bechtel is an industry expert with 7+ years as a kitchen designer. He brings unique insights to design thanks to his 15 years as a carpenter and contractor.

Rick believes in the importance of listening to the needs of the clients he works with. Utilizing his experience s a carpenter and contractor, he strives to make every layout as economical as possible through wise cabinet selection. 

Rick makes informed suggestions for products or features that can improve the cooking experience. He’s an expert in taking the dream items clients identify online or in showrooms and introducing options that better fit their design needs and are less cost prohibitive.

As a designer, he’s an expert on contemporary or transitional styles, light colors, and wood accents. 

Rick is passionate about woodworking and contracting but transitioned his career to spend more time with his children. He enjoys projects around his (or his children’s) house, and weekend trips with his wife.