LAFAYETTE PARISH — After reaching all-time high prices in 2021, the cost of lumber has dropped significantly—but it’s still not cheap. According to Trading Economics, lumber hit a record $1,711 per thousand board feet in May 2021. As of 2024, the average price has fallen to $524.50 per thousand board feet, though local woodwork companies say that's still high.
The National Association of Home Builders (NAHB) reports that the average single-family home requires more than 2,200 square feet of softwood plywood and about 15,000 board feet of framing lumber. John Breaux, general manager at Doug Ashy Building Materials, has seen firsthand how these prices have affected the industry.
“I’ve been in this business a long time. I’ve never seen it like that,” Breaux said. “Compared to today’s prices, we were selling OSB at the time for around $45 a sheet, and now we’re selling them about $12 a sheet, if that gives you any indication.”
The NAHB says changes in softwood lumber prices directly impact the cost of a new home. Combined with higher interest rates and other economic factors, this is one of the reasons housing affordability continues to decline.
