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Published August 15, 2025 • 3 minute read • Market Analysis
Per 1,000 board feet
Lumber futures have recovered strongly from May lows of $538, now trading above $600 per thousand board feet. According to Trading Economics, this surge is driven by North American homebuilding demand and constrained supply.
Market drivers reported: Canadian housing starts jumped 30% to 278,606 units in April, led by a 64% surge in Montréal multi-unit projects. US housing starts climbed to 1.361 million annualized, with an 11% rise in multi-family construction.
Supply factors: Sawmill output remains hampered by environmental curbs, pandemic-era shutdowns and freight bottlenecks. Input costs are escalating with softwood lumber PPI advancing 3% in April.
Price Movement: Current lumber prices represent an 11.5% increase from May lows of $538 per thousand board feet.
Market Conditions: Trading Economics reports dealers are restocking aggressively as peak construction season approaches.
Industry Trend: Higher material costs and supply constraints are affecting construction project planning across the industry.