Given that many homes in Canada use lumber and wood products, the price of lumber is a key factor in construction costs. Below, CHBA tracks weekly lumber and panel prices, and lumber futures.

Building Materials Price Escalation Clause
Members can access a Building Materials Price Escalation Clause here, based on a clause that was developed by the U.S. National Association of Home Builders (NAHB) and its legal team. It is recommended that members have it reviewed/edited by their legal counsel and include in their contracts as they see fit.

Historical CHBA Action
During the pandemic, lumber prices skyrocketed. For more information about CHBA’s updates to members during that time, visit the archived industry issues page on Softwood Lumber page here.

Lumber Price Trends (As of May 30, 2025)

The two charts from Natural Resources Canada below show the trends in lumber products for the past year for softwood and panels.

For context, Eastern spruce-pine-fir 2x4s, which are commonly used for framing, was at $500 CAD/mBf in April 2020. OSB, commonly used for sheathing, was at $350 CAD/MSF in April 2020.

Figure 1: Weekly lumber prices in North America

Figure 2: Weekly panel prices in North America

Lumber Futures - Quotes (As of May 30, 2025)

This chart show the trends in lumber futures for the upcoming months according to the CME Group. Click here for more information.