US housing demand expected push lumber prices higher in 2024

Lumber prices have somewhat stabilized this year after years of unusual volatility during the pandemic, making it easier for B.C. forestry companies to plan their business activities, analysts say. A thousand board feet (mbf) of mixed species lumber (spruce, pine, fir) was selling last week for US$400, down nearly US$100 from August, mainly due to it being low season for construction. But prices are expected to rise in February when orders for lumber products to fulfill U.S. housing demand increase. “There’s a couple of things that are happening. One is that there is ...

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