North America sees a drop in wholesale lumber prices, when will consumers see the decrease?
- June 17, 2021
NEWS RELEASE FOR IMMEDIATE RELEASE – June 17, 2021
The prices of lumber products are starting to drop from historically high rates, but consumers will be waiting before seeing prices dip in the stores according to the Western Retail Lumber Association (WRLA).
Liz Kovach, President of the WRLA, says consumers will have to wait until the fall before seeing their lumber projects become cheaper.
"There's significant lead times on products right now. What's being delivered to stores now was purchased about 10 weeks ago. The items that are bought now with some cheaper prices, won't be delivered for six to 10 weeks."
Kovach cites material order backlogs and transportation issues as factors in the delay.
There are still shortages on many items, and items such as OSB and plywood are in tight supply and still on allocation. These prices haven't seen relief and there is still a huge shortage of supply.
Many suppliers are struggling to adequately staff their manufacturing plants. Finding and retaining a skilled labour force is likely to be a major issue both in Canada and the U.S. going forward, which will likely compound many of the supply shortages and logistics challenges we are seeing.
The price of treated lumber is dropping quicker, in part to North America moving away from the pandemic and with reopening plans rolling out, more people are getting out of their homes and focusing less on their home-improvement projects.
About the Western Retail Lumber Association:
The WRLA represents 1,200 member firms in the building supply industry across Western Canada, including hardware stores, manufacturers, suppliers and lumberyards.
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For more information, please contact:
Amber McGuckin
Marketing & Communication Manager
Western Retail Lumber Association
Cell: 204-390-7911
amcguckin@wrla.org