Lumber Prices Rise

Framing lumber prices were higher again in mid-April, adding to the cost of repairs, additions, and rebuilds for U.S. homeowners. (nahb.org) The National Association of Home Builders said April 20 that Madison’s Lumber Price Index was unchanged week to week on April 17, but still 4.3% above a month earlier and 2.0% above a year earlier. Lumber futures rose 1% over the week, even as futures stayed 4.5% below a month ago. (nahb.org) For homeowners, that shows up in estimates for roof repairs, room additions, storm rebuilds, and new decks, because framing is one of the biggest line items in residential construction. In the National Association of Home Builders’ cost survey, framing accounted for 17.4% of construction costs paid by builders. (nahb.org) The pressure is landing on top of years of broader material inflation. The builders’ group says construction material costs have climbed 46.1% since February 2020, far outpacing overall inflation over the same stretch. (nahb.org) Trade policy is part of the reason lumber keeps swinging. The National Association of Home Builders said last week that Canadian softwood lumber imports currently face combined U.S. antidumping and countervailing duties of about 35.16%, with the Commerce Department signaling a preliminary rate of 24.83% later this year after its latest review. (nahb.org) Canada says those duties are unjustified and has kept the lumber dispute tied to wider trade talks ahead of the 2026 review of the United States-Mexico-Canada Agreement. Global Affairs Canada’s running timeline says the U.S. announced the 24.83% preliminary result on April 9. (international.gc.ca) Builders say the tariff bill does not stay in the lumber yard. The National Association of Home Builders said in April 2025 that recent tariff actions were adding an average of $10,900 to the cost of a new home, based on builder responses in its Housing Market Index survey. (nahb.org) Insurance analysts say the same math can lift premiums, because insurers have to price policies around what it would cost to rebuild a damaged house. Insurify projected tariffs would add $106 to the average annual homeowners insurance bill and push the national average to $3,626 by the end of 2025. (insurify.com) Reason reported April 22 that tariffs on construction inputs, including Canadian lumber, are feeding into replacement-cost estimates that insurers use when setting rates. That leaves homeowners paying more not only when they renovate, but also when they renew coverage. (reason.com)