Industry Forecast: Lumber Pricing & Market Predictions - 7/7/21
LUMBER: We are approaching a new bottom as the market continued to correct itself this past week. Prices have tumbled below last year's highs and may have a bit more to give back. There is a point when buyers will step in to replenish their depleting inventories, but they are holding out until the last possible moment. I foresee the rest of this year being a choppy ride for the lumber market.
PANEL: We have been predicting there would be a correction in the panel market soon, and this past week showed the first signs of some relief. I don't believe pricing will drop as fast as we witnessed dimension lumber come off, but this is a start.
Be aware that almost all other building material components are going up in price, led by metals and plastics. Lead times are extended weeks to months on windows, doors, roofing, and kitchens. It will continue to be a challenging year on the supply side, and it will not be corrected overnight.
Head of Purchasing
Concord Lumber Corporation