Although framing lumber prices have decreased in recent weeks since peaking in mid-May, the overall prices of wood products used in home building continue to soar. For example, the price of softwood plywood has increased by more than 200% and oriented strand board (OSB) prices have skyrocketed nearly 500% since April 2020.

Such price increases have added nearly $30,000 to the average price of a new single-family home, and nearly $10,000 to the average price of a new multifamily home.

NAHB, along with other industry stakeholders, recently participated in a virtual discussion with the White House regarding housing supply-chain challenges and possible solutions. NAHB stressed at this meeting that it is imperative lumber mill producers boost production to meet rising demand.