NAHB Keeps Lumber Prices in the Headlines

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Contacts: Alex Strong
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(202) 266-8279

David Logan
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(202) 266-8448

Felicia Watson
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(202) 266-8229

Lumber prices have skyrocketed more than 180% since last spring. This price spike has caused the price of an average new single-family home to increase by more than $24,000 since April 17, 2020. Similarly, the price of the average new multifamily home has increased by nearly $9,000 over the same period due to the surge in lumber prices

These sharp increases threaten housing affordability and the strength of the housing sector, which is leading the nation’s economic recovery. NAHB continues to seek prompt action from the Biden administration and other lawmakers by calling on domestic lumber producers to ramp up production to ease growing shortages, and making it a priority to work with Canada on a new softwood lumber agreement.

Recent NAHB Lumber Coverage

Please note that some articles may require a subscription to view.

March 2021

Chronicle Online: Soaring lumber costs cause spike in home prices
NAHB data is referenced regarding housing affordability.

The Spokesman-Review: Record lumber prices driving up cost of housing in Spokane
NAHB Chairman Chuck Fowke is quoted.

Boston 25News: With more people looking to improve their homes, wood prices reach record high
NAHB data is referenced.

Fortune: Buying a new home? Expect to pay $24,000 more as a worsening lumber shortage pushes wood prices up 180%
NAHB data is referenced in describing the impact of lumber on housing affordability.

Expand the accordions below to view earlier articles.

February 2021

Motley Fool: Lumber Issues Whack at Housing Starts, Affordability
NAHB Senior Officers Chuck Fowke, Alicia Huey and Carl Harris, and Chief Economist Rob Dietz cite causes of and solutions to the lumber crisis.  

The Washington Post: Builders grapple with land shortage, soaring lumber costs.
NAHB Chief Economist Robert Dietz is quoted.

Philadelphia Inquirer: Demand is high for newly built homes, but the pandemic-related delays continue to hinder builders
NAHB data is referenced.

Yahoo News: Rising lumber costs are adding $24,000 to the average price of new homes
NAHB data is referenced.

Fox Business: Making Money 
NAHB Chairman Chuck Fowke was interviewed on the impact lumber prices are having on the overall housing industry.

Realtor Magazine: Why New-Home Prices are Now at Least $24K Higher Than Last Year
NAHB data is referenced.

Marketplace Radio: Soaring lumber costs add to the price of new homes
NAHB data is referenced.

Fox Business: Varney & Co. on rising lumber prices
NAHB CEO Jerry Howard is interviewed on the impact of lumber on housing affordability.

Woodworking Network: Lumber prices hit record high; more White House intervention urged
NAHB is referenced for its efforts to encourage the Biden administration to act on the volatile lumber prices.

KOLD News 13: Soaring lumber prices hinder affordable housing
NAHB data is referenced, citing the many negative impacts of the short supply and high prices of lumber.

The Denver Channel: Price of lumber hits record high, threatening construction times and home sales
NAHB is referenced for its advocacy of potential solutions to the lumber crisis.

KTVL: Housing in hard times; The underlying problems and possible solutions
Higher lumber prices are making it harder for Oregon builders to rebuild homes following the Southern Oregon wildfires.

LBM Journal: Record-high lumber prices adding $24K to cost of new home
Following a record-setting week for lumber prices, NAHB revised its estimate of the rising financial impact on builders and buyers.

Daily Oklahoman: Ready for a custom house? You might not be able to buy one
Some custom builders are turning down new projects because of uncertainty surrounding soaring lumber prices. NAHB Chairman Chuck Fowke and Chief Economist Rob Dietz are quoted.

MarketWatch: Home builder confidence improves, but high construction costs remain a concern
Builders see improved foot traffic, which is offsetting their concerns about the rising costs of lumber. NAHB Chairman Chuck Fowke is quoted.

CNBC: Lumber prices top $1,000 for the first time as single-family housing starts drop 12%
Consumers want more newly built homes, but builders are finding that hard to deliver. NAHB Chief Economist Rob Dietz is quoted.

CNBC: Homebuilder confidence improves, despite record-high lumber prices
Buyer demand continues to surge, while material prices climb. NAHB Chairman Chuck Fowke and Chief Economist Rob Dietz are quoted.

Yahoo Finance: Relentless Home-Renovation Boom Sends Lumber Prices to Record
Rising lumber prices show no signs of abating as the pandemic is spurring home renovations projects. NAHB data is referenced.

Barron's: Housing Starts Dropped in January. Why the Building Boom Could Continue.
A forward-looking metric indicates more construction ahead. NAHB Chief Economist Rob Dietz is quoted.

DWM: Lumber Prices are Hammering Housing Affordability; NAHB Hopes Government Can Help
NAHB Senior Officers are quoted on how record-high lumber prices could potentially price out millions of would-be buyers from the market.

Bloomberg: U.S. Homebuilders Urge Biden to Help Ease Sky-High Lumber Costs
NAHB Senior Officers are quoted throughout the article about the impact of rising prices.

ProBuilder: Lumber Prices Hit Record High, Threatening Housing’s Momentum
NAHB CEO Jerry Howard is quoted about the response from lumber producers and NAHB’s ongoing efforts to address the issue.

CNBC: Thinking of a new wooden deck for spring? It may bust your budget
NAHB data is used in the article and NAHB Chief Economist is quoted about the impact of rising prices on housing affordability.

Contractor Magazine: Housing Affordability Holds Steady; Challenges Loom
NAHB Chairman Chuck Fowke is quoted saying that increasing lumber prices will be a key factor for rising housing prices.

Realtor Magazine: New-Home Buying Rush Likely to Continue in 2021
NAHB data is used to cite lumber as a key builder concern and to demonstrate the growth in lumber prices.

Mortgage News Daily: Builders Predict Tough Year for Multifamily Construction
NAHB Chief Economist Rob Dietz is quoted about rising lumber prices being a key factor limiting multifamily growth in 2021.

Housing Wire: How wild lumber prices have crippled homebuilders
NAHB data is cited and NAHB Chief Economist Rob Dietz discussed how lumber producers responded at the beginning of the pandemic; NAHB Economist David Logan also is quoted about the rise of other material costs.

The Knoxville News Sentinel: East Tennessee home builders ‘scratching and clawing’ for materials to meet demand
NAHB is cited for rising lumber prices one of the key factors for higher housing costs and longer construction periods in 2021. HBA of Greater Knoxville also quoted.

January 2021
December 2020

Bloomberg: Lumber Defies Usual Lull with Building Boom Straining Supply
NAHB Chief Economist Robert Dietz comments on re-escalating lumber prices due to lean inventories.

DMW Magazine: Dispute Over Softwood Lumber Rage on Following Tariff Reduction
Despite tariffs getting cut in half, NAHB is urging government officials for additional trade negotiations between Canada and the U.S.

AP Newswires: Lumber costs rose this year because of the pandemic
NAHB economist David Logan comments on how COVID-19 impacted supply chains, driving up building material costs and home sale prices.

Axios: The lumber market’s wild year
Lumber prices are shooting up again, extending the commodity’s wildest stretch ever. NAHB is mentioned.

Watertown Daily Times: Building supply shortages continuing as demand remains high
Supply and demand issues continue to strain lumber and other building supplies across the country. NAHB is mentioned.

The Daily Oklahoman: Your new house could cost less if the U.S. and Canada keep working through their lumber trade dispute
A reduction in duties on Canadian imports would have local and international impacts. NAHB Chairman Chuck Fowke is quoted.

LBM Journal: NAHB says more cuts to lumber tariffs needed
Following recent cuts to tariffs on Canadian lumber imports from 20% to 9%, NAHB says further cuts are needed to stabilize supply and bring down costs. NAHB Chairman Chuck Fowke is quoted.

November 2020

Washington Monthly: Worthwhile Canadian Initiative
The price of building materials, especially lumber, has skyrocketed. Indeed, some lengths and varieties of wood are simply unavailable. NAHB is mentioned.

RealtyBizNews: Builders say cheaper lumber could relieve rising home prices
The cost of new homes has been steadily climbing due to rising lumber prices, but a new report says that relief could now be on the way. NAHB is mentioned.

Housing Wire: NAHB CEO on how the presidential election could impact lumber prices
No matter who wins the presidential election on Tuesday, NAHB CEO Jerry Howard said that lumber prices might be a wash.

Mississippi Business Journal: State’s construction costs skyrocketing
Architects and contractors have seen the costs of construction materials, particularly lumber, skyrocket this year. NAHB is mentioned.
October 2020

Realty Biz News: Builders are facing supply shortages, so some are changing their sales tactics 
Building projects are facing longer timelines due to a shortage of supplies such as appliances, flooring materials, hardware and lumber. NAHB is mentioned.

Realtor: Builders Change Selling Tactics Amid Supply Shortages 
Production and supply chain disruptions from the early days of the coronavirus pandemic are lingering, causing prices to escalate. NAHB is mentioned.

The Boston Globe: Building Resentment Renovating?
Lumber, labor, and patience are in short supply. NAHB Chief Economist Rob Dietz is quoted.

Woodworking Network: One hundred politicians urge President Trump to intervene on lumber prices  
Lawmakers penned a letter to President Trump seeking action on lumber supply shortages that have resulted in unprecedented price spikes. NAHB is quoted.

LBM JournalWorking in tandem with NAHB, nearly 100 Republican and Democratic 
lawmakers sent a letter to President Trump seeking urgent action on lumber supply shortages Short supply has resulted in unprecedented price spikes in recent months that are threatening the housing industry and economic recovery. NAHB is mentioned.

Herald-Dispatch: Lumber, building material crisis impacting new home construction
Past Chair Randy Noel is quoted regarding the financial impact of lumber prices on his business.

MSN: Homebuilding is booming, so why is inventory so hard to find?
NAHB Chief Economist Robert Dietz explains the imbalances of the current supply and demand of housing. 

TBJ Plus: Huge Changes for Chapel Hill
The Wilmington Business Journal cites NAHB data on the rising costs of lumber and the impact across the entire industry.

Builder Magazine: NAHB Discusses Lumber Prices with Commerce Secretary
The association stressed to Sec. Ross the problems of escalating lumber prices.

WYFF-TV: Upstate home builders face high demand as lumber prices soar
NAHB's David Logan explains why, unlike other industries, housing did not see diminished demand during the pandemic.

September 2020

GV Wire: Soaring Lumber Costs Push New Home Prices Up
NAHB data is cited on "skyrocketing: lumber prices due to low supply and strong demand.

LBM Journal: Rising lumber prices can stunt housing market growth
NAHB Chairman Chuck Fowke explains the significant and widespread impact lumber prices could have on the nation's economic recovery.

International Business Times: Soaring Lumber Prices Pose Threat to Home Building, While Housing Inventory Keeps Narrowing
NAHB data is cited as lumber prices have skyrocketed by more than 130% since mid-April.

Dallas Business Journal: DFW homebuilding booming despite soaring lumber prices
Rapidly rising costs of lumber and other materials are threatening housing boom, builders say. (Subscription may be required)

Arkansas Business: Pandemic pushes lumber prices up
A surge in lumber demand has pushed prices to record heights. (Subscription may be required)

Denver 7 News: Lumber at an all-time high while some cities see all-time lows in housing inventory
Crews in the Denver area are working around the clock to keep up with increased demand for housing.

KTSP-TV: Lumber shortage due to COVID causes price spike
Home builders struggle to keep up with demand, despite record-high lumber prices that are driving up the cost of a new home.

Fox Business: ‘Only potential cloud’ on the home building horizon is lumber prices, says NAHB CEO (video)
Jerry Howard discusses which factors contributed to home builder sentiment hitting an all-time high.

Bloomberg: Staggering lumber rally has new homes going for $16,148 more
NAHB Chief Economist Robert Dietz comments on the impact of lumber prices on an already-volatile North American lumber industry.

Yahoo Finance: Soaring lumber prices may cool red-hot housing market (video)
NAHB CEO Jerry Howard breaks down the latest housing data, as August housing starts dropped 5.1%.

CNBC: Homebuilder sentiment soars to record high, but lumber prices raise a red flag
NAHB Chairman Chuck Fowke and Chief Economist Robert Dietz comment on the surge of housing demand.

Bloomberg TV: Rising lumber prices and the state of housing (video)
NAHB CEO Jerry Howard was interviewed on the key challenges facing the industry.

LBM Journal: Lumber prices continue to weigh on builders
The NAHBNow blog is cited for reporting the sharp price increase has put unnecessary pressure on home owners and builders.

Yahoo Finance: Staggering Lumber Rally Has New Homes Going for $16,148 More
With the imbalance of supply and demand, volatility in building materials prices have soared. NAHB data is referenced.

Los Angeles Daily News: Bubble Watch: Could soaring lumber prices hammer housing?
NAHB Chief Economist Robert Dietz is quoted, saying housing’s resurgence could stall as more buyers are priced out of the market.

Mortgage Professional America: Rising lumber costs driving up the price of new multifamily properties
NAHB says the spike in lumber prices since the beginning of the COVID-19 pandemic is hurting single- and multifamily investors.

Minneapolis Star Tribune: Why Minnesota lumber prices are going through the roof
The price of lumber has more than tripled since April due to pent-up demand from the spring. NAHB data is referenced.

The Oklahoman: Lumber prices soar, but building still booms in Oklahoma City
NAHB data is used to explain why lumber prices are rising.

Housing Wire: Spike in lumber prices boosts construction costs
NAHB Chief Economist Robert Dietz is quoted, saying higher lumber prices are adding about $16,000 to the cost of a new home.

The Wall Street Journal: Demand for Houses Boosts Home Construction
NAHB data show increasing lumber prices are pushing the cost of building a single-family home up by more than $16,000 since mid-April.

Associated Press: Oregon houses increase in price as lumber demand skyrockets
NAHB data indicate that lumber prices have more than doubled this year.

WRAL.com: Piles of lumber are ‘like gold,’ say local builders
According to the National Association of Home Builders, in the last four months, lumber prices increased more than 130 percent. That raised the price of anaverage new single-family home by more than $16,000.

August 2020

Fortune: ‘Severe lumber shortage’ is adding $14,000 to the cost of a new home
NAHB Chief Economist Rob Dietz is quoted on how the rising cost of lumber is impacting home buyers.

Inforum: Lumber prices spiking thanks to continued strong housing market, DIY boom
NAHB is cited for promoting increased domestic production and reductions in Canadian tariffs on softwood lumber to help avoid a market slowdown.

Spokane Journal: Lumber Prices Soar in Inland Northwest
The Spokane HBA estimated 200 families in the region are priced out of buying a new home, after sales prices have factored in the increased lumber costs.

ABC 15 News: Lumber costs leading to a rise in home prices during pandemic, home builders say
NAHB explains that high demand for new homes and low supply of building materials has led to a “staggering” price increase for lumber.

Financial Times: Lumber prices soar to all-time high on renovation demand
NAHB warns that the record-high lumber prices are threatening the recovery of the U.S. housing market.

The Tennessean: It’s a seller’s housing market as Nashville spring surge bleeds into summer
NAHB data is referenced on rising lumber prices and the impact on housing affordability.

Newsweek: Why Is There a Lumber Shortage in the U.S.?
NAHB Economist David Logan discusses how lumber supplies in the U.S. are facing a big shortage as a result of the coronavirus pandemic, presenting issues for the housing and construction market.

The Advocate: Lumber prices on the rise because of coronavirus-induced mill shutdowns, booming housing market
NAHB sent a letter to President Trump asking the Administration to take action as soaring lumber prices could threaten the economic recovery.

The Philadelphia Inquirer: New construction booms as home buyers look to stretch out
NAHB Chief Economist Rob Dietz is quoted in article about the impact of the pandemic on housing demand and lumber prices.

Marketplace: Housing starts pick up — prices too
Radio interview with NAHB CEO Jerry Howard and Builder member Mark Konter, discussing how increased costs for raw materials, including lumber, are increasing the price of homes.

Fox Business: Need for home offices, exercise space helping boost home building: NAHB CEO
Video with NAHB CEO Jerry Howard on home builder sentiment and rising lumber prices.

CNBC: Homebuilder sentiment jumps to record high, but soaring lumber prices could ‘dampen momentum,’
NAHB Chairman Chuck Fowke and Chief Economist Robert Dietz are quoted about the impact of rising lumber prices on future housing demand.

MarketWatch: Home-builder confidence jumps to record high in August
NAHB Chairman Chuck Fowke discusses how rising lumber prices could dampen the housing market in the fall.

Forbes: Low Mortgage Rates Help Propel A Strong Housing Market
NAHB CEO Jerry Howard notes the challenges builders face with rising demand, including rising lumber prices.

Barron’s: Home Builders Are Getting More Confident. Manufacturers Aren’t. What That Says About the U.S. Economy
NAHB cautions that the staggering increase in lumber prices threatens the economic recovery.

LBM Journal: Builder confidence matches all-time high
Despite record builder sentiment, NAHB cites recent spikes in lumber costs as cause for concern.

Citrus County Chronicle: Builders rushing to fill demand for homes
The pandemic has caused a rise in material costs, especially lumber, forcing builders to raise prices on homes.

Asheville Citizen Times: Lumber shortage means higher costs for homes, projects
A decrease in domestic production and tariffs push prices up 80%.

Engineering News Record: Homebuilders’ Group Wants Trump to Act to Halt Lumber Price Surge
With lumber prices rising sharply, NAHB wants the Trump administration to take steps to halt or reverse the costly trend.

Woodworking Network: Home builders seek White House action on soaring lumber prices
NAHB sent a letter to President Trump expressing the housing industry’s growing concern and seeking prompt action regarding soaring lumber prices and supply shortages that are harming the housing sector and the economy.

LBM Journal: Softwood lumber costs up nearly 30% since April
NAHB reports that softwood lumber is leading the increase in prices paid for goods used in residential construction, which continue their upward trend in July.

Motley Fool: Will the Worsening Lumber Shortage Derail Home Depot and Lowe’s?
Data from NAHB shows framing lumber prices have rocketed 26% higher over the past month, and are about double where they stood a year ago.

LBM Journal: NAHB seeks meeting with commerce secretary over lumber prices
NAHB is seeking to address supply chain disruptions and tariffs that are contributing to price volatility in the marketplace, the group announced on its NAHBNow blog.

July 2020

CNBC: Homebuilder sentiment jumps back to pre-coronavirus pandemic high
NAHB Chief Economist Rob Dietz notes that lumber prices reached a two-year high, along with other rising material prices.

MarketWatch: Lumber prices have skyrocketed — and that’s bad news for home buyers
NAHB Economist David Logan discusses how the sharp rise in lumber prices is affecting affordability.

The M Report: Lumber Prices Record Largest Price Gain in Two Years
NAHB reports that the Random Lengths Framing Composite Price reached upwards of $523 per 1,000 board feet for the week ending on July 10.

Construction Dive: Materials prices rise for second straight month since COVID-19 crisis began
Lumber prices have soared 50 percent since April 17, according to the National Association of Home Builders.

LBM Journal: Lumber prices at 2 year high
The Random Lengths Framing Composite Price hit $523 per 1,000 board feet for the week ending July 10, the National Association of Home Builders reports.

Bloomberg: A Forgotten Trade Spat With Canada Is Costing U.S. Homebuilders
NAHB Economist David Logan notes the impact of the lumber trade dispute with Canada on material costs and home prices.

The News Pocket: An abandoned transaction spat with Canada is breaking U.S. homebuilders
NAHB Economist David Logan discusses how the long-standing trade dispute with Canada over lumber is raising prices during the pandemic.

The MReport: Examining Residential Construction
The latest episode of DS5: Inside the Industry features an interview with NAHB Chief Economist Rob Dietz discussing impact of the pandemic on housing and lumber costs.

June 2020

CNBC: Homebuilders see strongest May sales in over a decade, but they have a big problem
NAHB Chief Economist Rob Dietz notes that among challenges builders face are lumber prices, which recently spiked after falling dramatically at the start of this year.

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