Strong demand for single-family housing in the U.S. has continued to bring down inventory levels and attempts to meet demand and rebuild inventories have produced some panic buying.
“I think the price hikes will end and be partially reversed in the next few months, provided that we don’t have a big hurricane,” said NAHB economist Michael Carliner.
“Once the fires are out,” added Carliner, “their short-term effect may actually be to increase supply as damaged trees are harvested, but that’s not happening yet, and may not happen.”
On the larger issue of reversing troubling countervailing and anti-dumping duties on Canadian lumber imports, NAHB First Vice President Bobby Rayburn reports that the association is continuing to make headway against the U.S. Commerce Department’s finding that Canadian lumber producers are subsidized.
While plywood and OSB are not subject to punitive duties, the continuing lumber trade dispute has contributed to price increases for framing lumber.
In the most recent development in this ongoing issue, an Aug. 13 ruling by a bi-national North American Free Trade Agreement (NAFTA) panel rejected 19% U.S. countervailing duties.
Current duties of more than 27% on Canadian lumber shipments to the U.S. include 8% anti-dumping duties.
For further information, or to report concerns over rising wood product prices, e-mail Michael Carliner or call him at 800-368-5242 x8376.
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