One reason for the outsized increase is that early-stage homebuying demand, including home tours, boomed in the two weeks following the presidential election.

In the week ending November 15, 2024, the price of benchmark softwood lumber item Western Spruce-Pine-Fir 2x4 #2&Btr KD (RL) was US$460 mfbm. This is up +$16, or +4%, from the previous week when it was $444, said weekly forest products industry price guide newsletter Madison’s Lumber Reporter.