Today’s close saw lumber futures prices at $552, maintaining a firm base amid mixed macroeconomic signals. Construction cycle strength remains a core driver keeping contracts supported for Q2. For renters, the pain from the forthcoming tariffs will be more indirect but no less real. When it becomes more expensive to build apartments, developers build fewer of them. That tightens an already competitive rental market and makes things more costly for tenants. Some would-be homebuyers, priced out by higher home costs and mortgage rates, also remain in the rental market longer, further increasing demand for apartments. Before the pandemic, lumber rarely traded above $450. In July 2020, futures were at $499 per thousand board feet, the WSJ reported at the time. Lumber futures prices are climbing toward $561 on renewed optimism over infrastructure spending allocations. Industrial lumber consumption adds a secondary demand layer to typical residential cycles.
